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AUSTRALIA DATA: Trends Show Labour Market Remains Tight

AUSTRALIA DATA
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It is not surprising that after five consecutive months of more than 30k new jobs, that there would be payback as some point, especially in a month that includes school holidays. Employment in October printed below expectations at +15.9k with September revised down to 61.3k but the unemployment rate was steady at 4.1%. The details continue to show a tight labour market with some indicators stabilising, consistent with the RBA on hold.

Australia employment vs hours worked y/y%

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It is not surprising that after five consecutive months of more than 30k new jobs, that there would be payback as some point, especially in a month that includes school holidays. Employment in October printed below expectations at +15.9k with September revised down to 61.3k but the unemployment rate was steady at 4.1%. The details continue to show a tight labour market with some indicators stabilising, consistent with the RBA on hold.

Australia employment vs hours worked y/y%

Keep reading...Show less