Australia Employment Change: +178.8K (vs. expected -27.5K) & Unemployment Rate: 7.0% (vs. expected 7.1%)

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.