SYDNEY (Reuters) – Employment in Australia missed forecasts in October, ending four straight months of outsized gains, although the unemployment rate remained stable and underlying trends in the labor market remained resilient.
Australian Bureau of Statistics figures on Thursday showed net employment rose by 15,900 in October from September, when it rose by 61,300. That was just below market forecasts for an increase of 25,000, while annual job growth still held at a strong 2.7%.
The unemployment rate remained at 4.1%, while the participation rate fell to 67.1% from an all-time high of 67.2%.