October’s Labour Force report “a strong update”

17 November 2022

 

Summary: Employment up 32,200 in October, greater than expected; “strong update” despite holidays, sick days, floods; in line with most forward labour demand indicators; participation rate unchanged at 66.5%; jobless rate declines to 3.4%; fewer part-time, more full-time jobs; aggregate work hours up 2.3%; underemployment rate declines to 5.9%. Australia’s period of falling unemployment came to an end in early 2019 when the jobless rate hit a low of 4.9%....

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