AUD traders – Heads up for Australia’s employment report due Thursday – preview

The Australian Labour Market report for October is due on 11 November 2021 at 0030 GMT. 

  • Employment Change: K expected 50K, prior -138K

  • Unemployment Rate: % expected 4.8%, prior 4.6%

  • Full-Time Employment Change:
    K prior was 26.7K

  • Part-Time Employment Change:
    K prior was -164.7K

  • Participation Rate: %
    expected 64.9%, prior was 64.5%

As reopening accelerated so to hiring is expected to show gains, as is participation. The lift in participation is expected to contribute to the lift in the jobless rate despite the new hiring impetus. 

Note, not all forecasts I have seen are in line with my paragraph above, some analysts are looking for a drop in employment in October due to Australia’s second-largest population state lockdown acting as a drag on jobs growth for much of the month. 

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