Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The Australian labour market continued to show resilience in October with employment growing by 55,000 compared to the expected 24,000 and despite unemployment flat at 3.7%, data from the Australian Bureau of Statistics showed Thursday.
The increase in employment followed September's 8,000. Bjorn Jarvis, ABS head of labour statistics, said the past two months' increases equate to average employment growth of around 31,000 people a month. "Which is slightly lower than the average growth of 35,000 people a month since October 2022," he added.
Part time work drove the growth in employment, up 37,900, while the participation rate also increased to 67.0%. The strong employment growth will weigh on the Reserve Bank of Australia, which wants the unemployment rate at 4.25% by December 2024.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.