Overview
- ABS data show net employment rose by 42,200 in October, led by a 55,300 increase in full-time positions as part-time roles fell by 13,100.
- Markets had expected about 20,000 new jobs and a 4.4% unemployment rate, making the outcome stronger than forecasts.
- Participation held near a record at 67% and hours worked edged up 0.1% to just under 2 billion.
- The result follows September’s rise in unemployment to 4.5%, easing immediate worries about a sharper slowdown.
- Economists say the firmer labour backdrop could encourage the RBA to keep rates steady, even as recent surveys point to softer hiring intentions and higher unemployment expectations.