Australia Jobless Rate Drops to 3-Year Low in September

Australia's seasonally adjusted unemployment rate unexpectedly dropped to 5.6 percent in September of 2016, compared to an upwardly revised 5.7 percent in August and below market estimates. It was the lowest jobless rate since September 2013 as the labor force participation dropped while the economy lost 9,800 jobs.

In September, the seasonally adjusted labour force participation rate came in at 64.5 percent from 64.7 percent in the prior month.

Employment fell 9,800 to 11,947,200: full-time employment decreased 53,000 to 8,105,300 and part-time employment increased by 43,200 to 3,841,900.

Unemployment decreased 12,500 to 705,100. The number of unemployed persons looking for full-time work decreased 7,400 to 492,300 and the number of unemployed persons only looking for part-time work decreased by 5,100 to 212,800.

Seasonally adjusted aggregate monthly hours worked in all jobs increased 4.0 million hours to 1,660.0 million hours.

Australia Jobless Rate Drops to 3-Year Low in September

ABS l Rida Husna |
10/20/2016 11:40:37 AM