Aussie Unemployment rate increased to 7.0% vs 6.9% prior, AUD firms

The Australian seasonally adjusted estimates for October 2020 came out and the Unemployment Rate increased to 7.0% vs 7.1% expected and 6.9% prior.

The participation rate increased to 65.8%.

Employment increased to 12,773,900.

Employment to population ratio increased to 61.2%. The underemployment rate decreased to 10.4%.

Monthly hours worked increased by 21 million hours.

In seasonally adjusted terms, in October 2020: The unemployment rate increased 0.1 pts to 7.0% (1.7 pts higher than a year ago).

Unemployment increased by 25,500 to 960,900 people (and increased by 238,900 over the year to October 2020).

The youth unemployment rate increased 1.0 pts to 15.6% (and increased by 3.1 pts over the year to October 2020).

More to come...