Australia's unemployment rate increases to 3.7 per cent in October
Australia's unemployment rate increased to 3.7 per cent in October, despite more than 50,000 people finding work in the past 30 days.
New data released by the Australian Bureau of Statistics (ABS) today showed the unemployment rate increased by 0.2 per cent, or about 28,000 people.
Bjorn Jarvis, ABS head of labour statistics, said the unemployment rate had returned to where it was in July and August.
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Workers on the Sydenham train station tracks. The NSW government will reveal plans for the troubled conversion of an existing rail line in Sydney's southwest into one planned for driverless metro trains. The T3 Bankstown Line is being upgraded and converted to metro standards between Sydenham and Bankstown. Photograph by Edwina Pickles. Taken on July 30th 2023. Edwina Pickles
"The large increase in employment in October followed a small increase in September of around 8000 people," Jarvis said.
"Looking over the past two months, these increases equate to average employment growth of around 31,000 people a month, which is slightly lower than the average growth of 35,000 people a month since October 2022."
In the previous reporting month of September, the unemployment rate remained at 3.6 per cent, despite an increase in the overall number of employed Australians.
More to come ...
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