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Asian Economic News

Australia Unemployment Rate Rises To 5.7%

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

The unemployment rate in Australia was a seasonally adjusted 5.7 percent in October, the Australian Bureau of Statistics said on Thursday.

That was in line with expectations and up from 5.6 percent in September.

However, the Australian economy added just 1,100 jobs in October - well shy of forecasts forecast for 10,000 following the addition of 9,100 in the previous month.

The participation rate was 64.8 percent, unchanged from the September reading following a downward revision from 64.9 percent. Forecasts were for 64.9 percent.

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