Jobs and unemployment jump

Thursday 11 October 2012

The ABS September Labour Force figures are out and it’s the reverse of last month with jobs created decent at 14.5k but headline unemployment jumping to 5.4%. Full time jobs were strong at 32k created and part time weak at minus 17k.

Of course, it is all about trend and on the charts, the unemployment rate is now in a clear up trend:

The rise in the headline rate was caused by some sanity returning the participation rate:

The dollar, God love it, was up 30 pips. Bullet proof at the moment.

More to come in detail from Leith…

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.