The jobless rate in Australia fell to a seasonally adjusted 5.9 percent in October, the Australian Bureau of Statistics said on Thursday.
That handily beat forecasts for 6.2 percent, which would have been unchanged from the September reading.
The Australian economy added 58,600 jobs in October – blowing away forecasts for an increase of 15,000 jobs following the upwardly revised 800 decline in September (originally a loss of 5,100).
Full-time employment increased by 40,000 persons to 8,171,600 while part-time employment increased by 18,600 to 3,666,600 persons in October.
The increase in total employment resulted from: an increase in male full-time employment, up 33,500 persons; an increase in female part-time employment, up 24,000 persons; an increase in female full-time employment, up 6,500 persons; and a decrease in male part-time employment, down 5,400 persons.
The participation rate climbed to 65.0, beating expectations for 64.9 percent, which would have been unchanged.
Seasonally adjusted monthly hours worked in all jobs increased 19.1 million hours in October to 1,660.4 million hours.
The seasonally adjusted employment to population ratio increased 0.2 percentage points to 61.2 percent in October.
Monthly hours worked in all jobs increased 19.1 million hours (1.2 percent) to 1,660.4 million hours.
The material has been provided by InstaForex Company – www.instaforex.com