Australian employment report: Unemployment rate 5.2% (expected 5.3%, prior 5.3%)

Author: Eamonn Sheridan | Category: News

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. 



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