Employment decreased to 11,646,800. Unemployment increased to 706,400 from a revised August 2013 estimate. Unemployment rate at 5.7%. Participation rate steady at 65.0%. Aggregate monthly hours worked increased to 1,645.8 million hours from a revised August 2013 estimate.
SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)
Employment increased 9,100 (0.1%) to 11,645,800. Full-time employment increased 5,000 to 8,133,700 and part-time employment increased 4,100 to 3,512,100. Unemployment decreased 14,700 (2.1%) to 697,100. The number of persons looking for full-time work decreased 5,000 to 509,200 and the number of persons looking for part-time work decreased 9,800 to 187,900. The unemployment rate decreased to 5.6%, a decrease of 0.1 pts based on unrounded estimates. The participation rate decreased 0.1 pts to 64.9%. Aggregate monthly hours worked decreased 6.4 million hours to 1,641.5 million hours.
The unemployment rate in Australia fell from a four-year high in September against expectations of no change, according to data from the Australian Bureau of Statistics.
The data shows the total number of jobs in Australia rose by 9,100 to a seasonally adjusted 11.647 million in the month, compared to 11.64 million in August.
As a result the unemployment fell to 5.6 per cent, from a four-year high of 5.8 per cent in August.
An AAP survey of 15 economists expected the data to show the unemployment rate remain at 5.8 per cent.
The number of people with jobs was forecast to have risen by 15,000 in September, compared to a fall of 10,800 in August.
It doesn't matter which way you look at it, the economy is simple screaming at full power, Kevin Rudd lied to all of us big time about the mining boom ending, the prosperity is utterly breathtaking in some areas of Brisbane.
Looks like these figures (if they can be trusted) have peaked, falling from 5.8% to 5.6% is significant. How is this possible when the media is awash with job loss stories.
I'm more inclined to believe the Roy Morgan figures which put unemployment closer to 10%.
Looks like these figures (if they can be trusted) have peaked, falling from 5.8% to 5.6% is significant. How is this possible when the media is awash with job loss stories.
I'm more inclined to believe the Roy Morgan figures which put unemployment closer to 10%.
fucken classic. you idiots crack me up. it's possible because you morons just believe what you want to hear.
fucken classic. you idiots crack me up. it's possible because you morons just believe what you want to hear.
It's pretty much game over for the bears. Employment is usually the last to recover after a downturn, and it looks like employment has now turned the corner and joined all the other positive indicators - house prices, auction clearance rates, business sentiment, credit growth, stock market etc. This boom could turn out to be a pretty big one.
It's pretty much game over for the bears. Employment is usually the last to recover after a downturn, and it looks like employment has now turned the corner and joined all the other positive indicators - house prices, auction clearance rates, business sentiment, credit growth, stock market etc. This boom could turn out to be a pretty big one.
This is indeed very good news and hopefully the RBA can soon get on with lifting interest rates.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
It's pretty much game over for the bears. Employment is usually the last to recover after a downturn, and it looks like employment has now turned the corner and joined all the other positive indicators - house prices, auction clearance rates, business sentiment, credit growth, stock market etc. This boom could turn out to be a pretty big one.
I'd be a bit more cautious on the turnaround call, but it does seem to be an optimistic development. As you say, employment is almost always the last shoe to drop.
The truth will set you free. But first, it will piss you off. --Gloria Steinem AREPS™
I saw this as a pretty flat result given that there were only 10,000 jobs created and total hours fell. Participation rate falling made the result look better than it was. Given monthly volatility you would want to see a couple more months before drawing any conclusions. I also wonder how much the election contributed temporarily to employment.
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