Australia Jobless Rate Sinks To 5.5% In September

It remains below the national unemployment rate of 4.2 percent.

Unemployment fell to 5.5 per cent in September, from 5.6 percent, with the economy adding almost 20,000 jobs, according to Australian Bureau of Statistics data released on Thursday.

The federal Bureau of Labor Statistics estimates that MA has gained more than 62,000 jobs over the past 12 months.

The Australian economy added 19,800 jobs in September, beating forecasts for an addition of 15,000 jobs following the addition of 54,200 jobs in the previous month.

Full-time employment rose by 6,100 jobs, while the number of part-time jobs was up 13,700. Even better, growth in full-time jobs has consistently accelerated over the past seven months, up 3.9% in the year to September - the sharpest increase one month short of 10 years (October 2007 at 4.0%).

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The local currency briefly spiked on the data release, climbing to a high of 78.70 U.S. cents, compared to 78.48 USA cents just ahead of the 1130 AEDT data release.

Wisconsin's unemployment rate ticked up in September, increasing 3.4 percent to 3.5 percent. The rate in the Seattle-Bellevue-Everett area increased slightly to 3.8 percent in September from 3.7 percent in August.

"Full-time employment has now increased by around 271,000 persons since September 2016, and makes up the majority of the 335,000 person net increase in employment over the period", said Bruce Hockman, chief economist for the bureau.

"The main takeaway is that the improvement in the labour market has been sustained now for the best part of a year, so this is no flash-in-the-pan", Mr Walters said.

Over the past year, trend employment increased by 2.8 per cent, which is above the average year-on-year growth over the past 20 years (1.9 per cent).

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