I'm confused, is it employment

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2023-11-16

I'm confused, is it employment jumps up and unemployment 🤷‍♂️

Australia Employment Jumps 55,000 in October, but Jobless Rate Edges up to 3.7%

Employment smashed expectations in October with 55,000 people finding work, more than double market forecasts, but the jobless rate edged higher to 3.7 percent.The number of people participating in th

Australia Employment Jumps 55,000 in October, but Jobless Rate Edges up to 3.7%

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Mr Jarvis said a slowdown in the growth of hours worked also indicated a slowdown.</p><h2 id=\"id_1166768868\" style=\"text-align: start;\">Young people hit hardest</h2><p style=\"text-align: start;\">The underemployment rate was unchanged at 6.3 per cent in October, in line with September’s revised figure. Unemployment of people aged 15–24 rose to 9.2 percent from 8 per cent the month prior. </p><p style=\"text-align: start;\">The result for young Australians is the worst since December 2021.</p><p style=\"text-align: start;\">The RBA forecasts the jobless rate to rise slowly to 3.8 percent by year’s end and to 4.2 percent by the end of 2024. While this is often interpreted as meaning people will lose jobs, booming migration means it is more likely unemployment will largely increase because of population growth.</p><p style=\"text-align: start;\">Sean Langcake, head of macroeconomic forecasting for Oxford Economics, said forward indicators of labour demand had also softened, and he expected further increases in the unemployment rate in early 2024.</p><p style=\"text-align: start;\">“While the unemployment rate ticked up in October, overall, we see this a relatively strong print, and shows the labour market continues to defy the gravity of slowing activity and softening forward indicators,” he said.</p></body></html>","source":"lsy1647818771712","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Australia Employment Jumps 55,000 in October, but Jobless Rate Edges up to 3.7%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Mr Jarvis said a slowdown in the growth of hours worked also indicated a slowdown.Young people hit hardestThe underemployment rate was unchanged at 6.3 per cent in October, in line with September’s revised figure. Unemployment of people aged 15–24 rose to 9.2 percent from 8 per cent the month prior. The result for young Australians is the worst since December 2021.The RBA forecasts the jobless rate to rise slowly to 3.8 percent by year’s end and to 4.2 percent by the end of 2024. While this is often interpreted as meaning people will lose jobs, booming migration means it is more likely unemployment will largely increase because of population growth.Sean Langcake, head of macroeconomic forecasting for Oxford Economics, said forward indicators of labour demand had also softened, and he expected further increases in the unemployment rate in early 2024.“While the unemployment rate ticked up in October, overall, we see this a relatively strong print, and shows the labour market continues to defy the gravity of slowing activity and softening forward indicators,” he said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":313,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":53,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}