Australia September Jobs +6.7K (vs. +20K expected) & Jobless rate 3.6% (vs. 3.7% exp)

<p>While the number of jobs added during September, at +6.7K, is a disappointment the other 'headline', the unemployment rate, dropped to 3.6% from 3.7%. Due to a big drop in participation, from a record high of 67% in August to 66.7% in September.</p><p>The split between full- and part-time employment change is ugly:</p><ul><li>full-time nearly -40K, this is worse than it looks given the prior month was only +2.8K</li><li>part-time +46.5K</li><li>hours worked fell 0.4% m/m (to be -0.9% for the quarter)</li><li>underemployment rate 6.4% (from 6.6%)</li><li>underutilisation rate (combines the unemployment and underemployment rates) 9.9% from 10.2%</li></ul><p>—</p><p>Published at the same time was the National Australia Bank quarterly business survey:</p><p>Business Confidence in Q3 came in at -1</p><ul><li>prior -4</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.