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Australian Unemployment Rate fell to 5.6%

Thursday, Nov 17 2016
Australian Unemployment Rate fell to 5.6%

Monthly trend employment in Australia decreased in October 2016, according to figures released by the Australian Bureau of Statistics (ABS) today.  In October 2016, trend employment decreased by 1,000 persons to 11,946,600 persons, the first decrease in the trend series since November 2013. This slight fall in trend employment reflected an increase in part-time employment of 8,400 persons being more than offset by a decrease in full-time employment of 9,500 persons.

The trend unemployment rate remained steady at 5.6 per cent. The participation rate decreased by 0.1 percentage points to 64.5 per cent. Participation has decreased by 0.6 percentage points over the past year. Trend series smooth the more volatile seasonally adjusted estimates and provide the best measure of the underlying behaviour of the labour market. The seasonally adjusted number of persons employed increased by 9,800 in October 2016. The seasonally adjusted unemployment rate for October 2016 remained at 5.6 per cent, and the seasonally adjusted labour force participation rate remained at 64.4 per cent.

 

Aussie is currently being traded around 0.7460 level. Pair is likely to find support around 0.74 area and resistance above 0.75 handle.

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