Australia's jobless rate ticks up slightly

posted by editor on 2019-11-14 08:25:16 in Forex, Forex Market, Aussie Dollar, AUDUSD, AUD/USD, AUD-USD, Jobless Rate | 0 comments

SYDNEY--Australia's unemployment rate rose slightly to a seasonally adjusted 5.3% in October from 5.2% in September, the Australian Bureau of Statistics said Thursday.

The jobless rate was in line with economists' forecasts, although the number of people employed fell by 19,000, compared with an expected 17,000 rise.

Labor-market performance is a key marker for the Reserve Bank of Australia, with the central bank watching any fluctuations in labor market growth and wage changes ahead of its last policy meeting of the year, economists say.

The number of people in full-time work fell by 10,300, while those in part-time work declined by 8,700.

The bureau said its seasonally adjusted workforce participation rate, or the proportion of working-age people at work or actively seeking work was 66.0%.

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