Booming but cooling; September jobless rate declines

19 October 2023

 

Summary: Employment up 6,700 in September, less than expected; ANZ: figures point to cooling labour market; UBS: employment growth still booming at 2.9%; participation rate falls back to 66.7%; jobless rate ticks down to 3.6%; more part-time, fewer full-time jobs; aggregate work hours down 0.4%; underemployment rate down from 6.5% to 6.4%. Australia’s period of falling unemployment came to an end in early 2019 when the jobless rate hit a...

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