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Financial News: Australia Jobless Rate Sinks To 3.4% In October

Australia Jobless Rate Sinks To 3.4% In October

11/16/2022 - 19:37:00 (RTTNews)

(RTTNews) - The unemployment rate in Australia came in at a seasonally adjusted 3.4 percent in October, the Australian Bureau of Statistics said on Thursday.

That beat expectations for 3.6 percent and was down from 3.5 percent in September.

The Australian economy added 32,200 jobs last month, blowing away forecasts for a gain of 15,000 jobs following the addition of 900 jobs in the previous month.

Full-time employment put on 47,100 jobs in October, while part-time employment was down 14,900 jobs.

The participation rate slipped to 66.5 percent, missing forecasts for 66.6, which would have been unchanged.

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