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.
Australia’s unemployment rate fell 0.1 pp to 3.6% in September, stronger than the 3.7% expected, however, employment was softer than anticipated growing by 7,000 – significantly lower than the 20,00 predicted, according to Australian Bureau of Statistics data.
The employment number was down significantly from last month’s 65,000 jobs, while the participation rate fell 0.2 pp to 66.7% from last month’s record high of 67.0%. (See MNI BRIEF: Aussie Unemployment Holds At 3.7%, Employment Solid)
“Looking over the past two months, average monthly employment growth was 35,000 people, around the average growth we’ve seen in the past year,” said Kate Lamb, head of labour statistics at the ABS.
The strong labour metric will frustrate the Reserve Bank of Australia, which wants unemployment at 4% by the end of Q4, according to its August Statement on Monetary policy.
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.