The Australian seasonally adjusted estimates for October 2020 came out and the Unemployment Rate increased to 7.0% vs 7.1% expected and 6.9% prior.
The participation rate increased to 65.8%.
Employment increased to 12,773,900.
Employment to population ratio increased to 61.2%. The underemployment rate decreased to 10.4%.
Monthly hours worked increased by 21 million hours.
In seasonally adjusted terms, in October 2020: The unemployment rate increased 0.1 pts to 7.0% (1.7 pts higher than a year ago).
Unemployment increased by 25,500 to 960,900 people (and increased by 238,900 over the year to October 2020).
The youth unemployment rate increased 1.0 pts to 15.6% (and increased by 3.1 pts over the year to October 2020).
More to come…
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