Nov 8, 2012

Stevens vindicated: resilient labour market backs RBA call

October jobs data shows the economy still outperforming the predictions of doomsayers. Glenn Dyer and Bernard Keane investigate.

Once again the labour market has made monkeys of forecasters and the gloomsters, as for the second month in a row, the jobs market added more jobs than anyone expected.

The Australian Bureau of Statistics data this morning for October showed that the jobless rate remained at 5.4%, the same rate it reached in September. But 18,700 new full-time jobs were added in the month (seasonally adjusted), well ahead of expectations, and 8000 part time jobs were lost for a net gain of 10,700 jobs.

Free Trial

Proudly annoying those in power since 2000.

Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox

By starting a free trial, you agree to accept Crikey’s terms and conditions


Leave a comment

One thought on “Stevens vindicated: resilient labour market backs RBA call

  1. Simon Mansfield

    better put rates up then.

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details