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Australia's Unemployment Rate dips to 5.0%, but Aussie Employment Change misses hopes

Joshua Gibson FXStreet

Australia's seasonally-adjusted Unemployment Rate beat expectations, clocking in at 5.0%, but the Aussie Employment Change figure sharply missed expectations, printing at 5.6 thousand compared to the previous reading of 44 thousand, and the Aussie Participation Rate also missed forecasts, coming in at 65.4%, down from the previous reading of 65.7%.

Key highlights (via ABS)

"Today's figures continue to show a gradual decrease in the trend unemployment rate that began in late 2014. The trend unemployment rate of 5.2 per cent is the lowest it has been since mid 2012." said the Chief Economist for the ABS, Bruce Hockman.

The seasonally adjusted number of persons employed increased by around 5,600 persons in September 2018. The seasonally adjusted unemployment rate decreased to 5.0 per cent and the labour force participation rate decreased to 65.4 per cent. The net movement of employed in both trend and seasonally adjusted terms is underpinned by well over 300,000 people entering employment, and more than 300,000 leaving employment in the month.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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Australia's Unemployment Rate dips to 5.0%, but Aussie Employment Change misses hopes

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