October jobs market report from Australia

Employment Change: +178.8K HUGE BEAT

  • expected -27.5K, prior -29.5K

Unemployment Rate: 7.0% BEAT (do note there were +25K unemployed)

  • expected 7.1%, prior 6.9%

Full Time Employment Change: +97.0K

  • prior was -20.1K

Part Time Employment Change: +81.8K

  • prior was -9.4K

Participation Rate: 65.8% this adds gloss to the great numbers

  • expected 64.8%, prior was 64.8%

Underemployment down 1% to 10.9%

While the number of employed people in Australia is still 230,000 down on the February payroll this improvement today is at least a good claw back. More work to do of course.