7 Nov 2013
Australia labour data: 28K full time jobs lost
FXstreet.com (Barcelona) - The Australian employment data for October came worse-than-expected at +1.1k vs +10k expected and 9.1k prior, with the unemployment rate coming at 5.7% vs 5.7% exp and 5.6% prior.
Meanwhile, the full-time employment change saw -27.9k vs +5.0k prior, while part-time employment change came at +29k vs 4.1k prior. The participation rate, which was expected at 64.9%, stood at 64.8%.
Overall, it is a disappointing report, especially on the big miss on the full-time jobs, which somehow gets overshadowed on the main headline of 1.1k by part-time hiring. The data should reinforce the belief of those supporting the RBA to stay dovish/neutral for longer.
Meanwhile, the full-time employment change saw -27.9k vs +5.0k prior, while part-time employment change came at +29k vs 4.1k prior. The participation rate, which was expected at 64.9%, stood at 64.8%.
Overall, it is a disappointing report, especially on the big miss on the full-time jobs, which somehow gets overshadowed on the main headline of 1.1k by part-time hiring. The data should reinforce the belief of those supporting the RBA to stay dovish/neutral for longer.