Australian employment report: Unemployment rate 5.2% (expected 5.3%, prior 5.3%)
September labour market report from Australia - a BEAT on the jobless rate will be welcomed by the RBA.
Employment Change: 14.7K - a small miss
- expected 15.0K, prior 34.7K
Unemployment Rate: 5.2%
- expected 5.3%, prior 5.3%
Full Time Employment Change: 26.2K
- prior was -15.5K
Part Time Employment Change: -11.4K
- prior was +50.2K
Participation Rate: 66.1% …. a drop here to take some of the gloss of the u/e rate beat.
- expected 66.2%, prior was 66.2%
The Reserve Bank of Australia want the jobless rate at 4.5% Its down a touch in this report, and as I say the decline in pariticiaption will take some of the shine off this result, but at least its a move in the desired direction.
At the margin it reduces the chance of a near term rate cut and is thus a positive inout for the AUD.
