Australian employment report for September data results
Employment Change: -5.1 K
- expected +9.6K, prior +18.1K, revised from +17.4K
Unemployment Rate: 6.2 %
- expected 6.2%, prior 6.2%
Full Time Employment Change, -13.9 K
- prior was +11.0K, revised from +11.5K
Part Time Employment Change, +8.9 K
- prior was +7.1K, revised from +5.9K
Participation Rate, 64.9 %
- expected is 65.0%, prior was 65.0%
A big miss on the headline employment data
A big miss of the 'full time' employment
Unemployment rate comes in on expectations to cushion the yucky data somewhat ... but, you're way ahead of me, right .... a dip in the participation rate will account for that (to a greater or lesser extent)
AUD/USD was climbing before the data release but marked lower immediately on the miss. It dipped under 0.7300 (by a whisker, if at all) briefly.
From the Australian Bureau of Statistics ... I've reprinted this 'cause the Australian Bureau of Statistics tell us to look at the 'trend figures' not the sa ...So, here you go:
And, in pics:
So, the trend in employment looks good! And the trend in unemployment .... errr ... not so good ... Which has been a consistent story here in Australia ... yes, employment is growing, but not fast enough to make much inroad into the unemployment rate.
