ONLY CHARTS #191
Aus labour market
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1. Australia’s unemployment rate was unchanged at 4.1% in September (in unrounded terms it fell from 4.14% to 4.07%). That occurred alongside another strong rise in employment of +64.1k m/m, taking the employment-to-population ratio 0.15ppts higher to 64.44%.
Stronger employment growth has dragged the labour force participation rate higher.
Australia’s unemployment rate is tracking in line with the RBA’s latest forecasts.
2. The resilience of Australia’s labour market continues to stand out among peer economies. Employment-to-population ratios are falling elsewhere, and unemployment rates are typically rising more quickly than in Australia.
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