Article by ForexTime
The Australian labour market showed some improvement in October but September’s revised data disappointed.
The Australian economy added 24,100 jobs in October, better than the 22,500 forecast by Reuters, the Australian Bureau of Statistics (ABS) showed on Thursday.
The rise was made up of a 33,400 increase in full-time employment, while part-time employment fell 9,400.
The jobless rate was 6.2 percent, unchanged from September.
However, according to the ABS, the total number of Australians employed in September was 24,400 fewer than previously reported and the jobless rate was 6.2 percent, compared with the prior 6.1 percent.
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“The review has subsequently identified that change to the program of supplementary surveys conducted as part of the monthly labor force survey was the significant contributing factor,” it said today. “The ABS has developed the new seasonal adjustment approach to take account of this impact.”
The Australian dollar fell as low as 86.54 U.S. cents after the report on Thursday, before recovering to trade at 86.89 U.S. cents at 12:40 p.m.
Article by ForexTime
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