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Financial News: Australia Jobless Rate Jumps To 5.2% In October

Australia Jobless Rate Jumps To 5.2% In October

11/10/2021 - 19:35:00 (RTTNews)

(RTTNews) - The unemployment rate in Australia increased to a seasonally adjusted 5.2 percent in October, the Australian Bureau of Statistics said on Thursday.

That was well above expectations for 4.8 percent and up from 4.6 percent in September.

The Australian economy lost 46,300 jobs last month, missing forecasts for an increase of50,000 following the loss of 138,000 jobs in the previous month.

The participation rate increased to 64.7 percent, shy of expectations for 64.9 percent but still up from 64.5 percent a month earlier.

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