Australian jobs report: Employment Change: -138K (vs. expected -120K)

Author: Eamonn Sheridan | Category: News

Australian employment report for September 

Employment Change: -138K for a miss
  • expected -120K, prior -146.3K

Unemployment Rate: 4.6% for a beat but above the previous month 
  • expected 4.8%, prior 4.5%

Full-Time Employment Change: +26.7K 
  • prior was -68K

Part-Time Employment Change: -164.7K 
  • prior was -78.2K

Participation Rate: 64.5% ... this (very big) drop helps to explain the unemployment rate not being as bad as was expected 
  • expected 64.7% 
  • prior was 65.2%

Total hours worked are up, +15m hours 

Number of people employed is back around where it was in December 2020 and back beneath its pre-pandemic level. 
  • 0.9% below pre-pandemic peak
  • down 2.2% over the past two months 
AUd is little changed. Economic bounce back is expected as the states of NSW and Vcitoria, just under 50% of the Australian population gradually reopen in the weeks ahead. 

 more to come   

Background here:

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