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Australia – Surprise Drop in Unemployment

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Australia’s official unemployment rate dropped to 5.9% in October as employment surged, beating economists’ expectations by a wide margin, official data from the Australian Bureau of Statistics showed. By contrast, job markets analysts had forecasted no change in unemployment.

The number of people employed overall soared by 58,600 in the month, well above market expectations of a 15,000 rise. The number of unemployed people shrank by 33,400. The unemployment rate for October was well below the 6.2% figure in September, official data from the Australian Bureau of Statistics showed. Unemployment was last at this level in May and has not been below that level since a reading of 5.8% in November 2013. Full-time employment increased by 40,000, and part-time jobs rose by 18,600.

SOURCE: staffingindustry.com

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Chris is a digital marketing and publishing whizz by trade, having worked alongside the Automotive, Information Security and Software Asset Management sectors.

Specialising in data analysis and social media, he combines an analytical approach with a creative flair to achieve the best results. With a keen interest in Technology and Politics, Chris is constantly on the look-out for the latest stories around change and innovation.

As a lover of all things innovative, he has developed a keen eye for spotting the latest trends and hot topics. He sources and reads the latest news and thought-leadership articles from the world of recruitment before sharing them with the social media population.

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