The data release is here, it sent AUD lower:
- Australian jobs report - Unemployment rate 5.3% (vs. 5.2% expected)
- Australian dollar drops on the big miss on jobs report
The data in the post above is the 'seasonally adjusted' data - which is the market focus. The Australian Bureau of Statistics tell us to look at the 'trend' data. I say this every month so I'm not trying to make excuses for the awful sa results, K?
Anyway, via ABS on the 'trend' data:
trend unemployment rate remained steady at 5.3 per cent
- "Trend unemployment in October 2019 remained steady at 5.3 per cent, 0.2 percentage points higher than the same time last year."
- "The increase in the unemployment rate over the past year has coincided with a 0.5 percentage point increase in the participation rate, from 65.6 per cent to 66.1 per cent"
trend monthly employment increased by around 12,300
- Full-time employment increased by around 5,800
- part-time employment increased by around 6,500
- Over the past year, trend employment increased by around 268,500 people (2.1 per cent), which continued to be above the average annual growth over the past 20 years (2.0 per cent). Full-time employment increased by 1.8 per cent and part-time employment increased by 2.8 per cent over the past year.
The trend monthly hours worked increased by 0.2 per cent in October 2019 and by 1.7 per cent over the past year.
- This was slightly above the 20 year average year-on-year growth of 1.6 per cent.
trend monthly underemployment rate remained steady at 8.5 per cent in October 2019, an increase of 0.2 percentage points over the past year. The trend monthly underutilisation rate also remained steady at 13.8 per cent in October 2019, an increase of 0.4 percentage points over the past year.
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Yeah, please remain calm (and keep trashing the AUD ;-) )
