ONLY CHARTS #211

Aus labour market, Aus household inflation expectations

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1. Australia’s unemployment rate was unchanged at 4.1% in October (in unrounded terms it rose from 4.08% to 4.13%).

Employment rose +15.9k m/m, resulting in a small dip in the employment-to-population ratio from 64.44 to 64.36% (unchanged in rounded terms).

The labour force participation rate fell slightly following a run higher this year.

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 have fallen elsewhere, and unemployment rates are rising more quickly than in Australia in several economies, the US being a notable exception.