Economic Buzz: Australia Unemployment Rate Falls To 3.4% In October

17 Nov 2022 , 10:56 AM

The unemployment rate in Australia came in at a seasonally adjusted 3.4 percent in October, the Australian Bureau of Statistics reported. The Australian economy added 32,200 jobs last month, blowing away forecasts for a gain of 15,000 jobs following the addition of 900 jobs in the previous month. Full-time employment put on 47,100 jobs in October, while part-time employment was down 14,900 jobs. The participation rate slipped to 66.5 percent, missing forecasts for 66.6, which would have been unchanged.Powered by Commodity Insights