UPDATE 1 — Australia employment unexpectedly slides in September, jobless at 4.7%
(Adds market reaction, analyst quotes) By Stella Qiu SYDNEY, Oct 15 (Reuters) — Australian employment unexpectedly fell in September, data showed on Thursday, while the unemployment rate held at a five-year high, a soft result that had investors paring back wagers on another hike in interest rates. Markets now imply a nearly 90% chance the Reserve Bank of Australia will leave interest rates unchanged at 4.6% in November, up from 66% before the data, after delivering four rate hikes this year. The chance of a move in December has fallen to just 31%, with another rate increase no longer fully priced in. The Australian dollar slipped 0.2% to $0.6956, while three-year government bond futures rallied 11 ticks to 95.19. Figures from the Australian Bureau of Statistics showed net employment slid 39,300 in September from August, when it rose a downwardly revised 29,300. That was the biggest monthly fall since February last year, as part-time roles tumbled 73,700. Analysts had forecast a rise of around 20,000. The jobless rate stayed at 4.7%, with the previous month revised up from an initial 4.6% reading. The participation rate dipped to 66.8%, while hours worked rose 0.1% and underemploym
(Adds market reaction, analyst quotes) By Stella Qiu SYDNEY, Oct 15 (Reuters) — Australian employment unexpectedly fell in September, data showed on Thursday, while the unemployment rate held at a five-year high, a soft result that had investors paring back wagers on another hike in interest rates. 6% in November, up from 66% before the data, after delivering four rate hikes this year. The chance of a move in December has fallen to just 31%, with another rate increase no longer fully priced in. 19.
Figures from the Australian Bureau of Statistics showed net employment slid 39,300 in September from August, when it rose a downwardly revised 29,300. That was the biggest monthly fall since February last year, as part-time roles tumbled 73,700. Analysts had forecast a rise of around 20,000. 6% reading.
3%. 7% gives the RBA more room to be patient and assess incoming inflation data before raising rates again," said Oscar Guth, an economist for Oxford Economics Australia. " The RBA has warned of caution in interpreting the monthly jobs data given the methodological changes to the survey, arguing that more forward-looking indicators such as job ads pointed to a broadly stable labour market, the minutes of the September policy meeting showed on Tuesday. 6%, both above its target band of 2% to 3%.
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