Another 24,000 Jobs Added In Australia In October, Unemployment Rate Flat At 6.2%

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The Australian economy added 24,100 jobs in October, beating market expectations of a 20,000 increase.

The unemployment rate remained flat at 6.2%.

There was a big increase of 33,400 in full-time jobs, while part-time employment decreased 9,400 to 3,533,700, seasonally adjusted.

Unemployment increased slightly to 7,100.

It’s a good report, although with the recent wild swings in this survey – and the ABS having to issue a clarifying statement on its methods for data collection on it earlier this week – the market may be taking them with a pinch of salt.

The Australian dollar, having dipped to four-year lows overnight, gained slightly on the news but minutes later started falling again and a short time ago was trading at 0.8562.

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