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Trend unemployment rate steady

Australia’s trend unemployment rate remained steady at 5.3 per cent in October 2019, according to the latest information released by the Australian Bureau of Statistics (ABS) last week.

ABS Chief Economist Bruce Hockman said trend unemployment in October 2019 remained steady at 5.3 per cent, 0.2 percentage points higher than the same time last year.”

“The increase in the unemployment rate over the past year has coincided with a 0.5 percentage point increase in the participation rate, from 65.6 per cent to 66.1 per cent,” said Mr Hockman.

The monthly trend unemployment rate remained steady in Victoria, Queensland, South Australia, Western Australia and the Australian Capital Territory in October 2019. The unemployment rate increased in the Northern Territory and New South Wales, and decreased in Tasmania.

Over the year, unemployment rates fell in Western Australia and the Australian Capital Territory, and increased in all other states and territory.

 

 

 

 

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