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Australian employment rebounds strongly in Oct, jobless rate still up

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Published Thu, Nov 16, 2023 · 09:14 AM
    • Australia's jobless rate edged up to 3.7 per cent, matching forecasts and largely due to a jump in the participation rate back to a record high of 67 per cent.
    • Australia's jobless rate edged up to 3.7 per cent, matching forecasts and largely due to a jump in the participation rate back to a record high of 67 per cent. PHOTO: REUTERS

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    AUSTRALIAN employment rebounded strongly in October, after a soft patch the previous month, though the jobless rate still ticked higher as more people went looking for work.

    Figures from the Australian Bureau of Statistics on Thursday showed net employment rose 55,000 in October from September, when they edged up 7,800. Market forecasts had been for an increase of around 20,000.

    The jobless rate edged up to 3.7 per cent, matching forecasts and largely due to a jump in the participation rate back to a record high of 67 per cent. REUTERS

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