Jobless rate 5.7 per cent in October

The unemployment rate was steady at 5.7 per cent in October with just 1100 joining the work force in the month.

A woman looking at job advertisements on the paper

(AAP)

Australia's jobless rate remained steady at 5.7 per cent in October due to a stagnant labour market.

Australian Bureau of Statistics figures show the monthly reading hit financial expectations after a small upward adjustment in the September rate.

Full-time employment fell by 27,900 jobs, while part-time work was up 28,900.

The total number of Australians in work was 11.64 million in October after a meagre 1100 people joined the workforce.

The Reserve Bank of Australia left the cash interest rate unchanged this week after noting unemployment had edged higher over the past year.

But Thursday's job figures imply the economy remains soft and could heighten the case for a further rate cut in coming months.

Across the states, the jobs market was mostly soft in October.

The jobless rate in NSW rose to 5.9 per cent from 5.6 per cent, in Victoria it increased to 5.9 per cent from 5.8 per cent, while it leaped 0.6 percentage points to 6.6 per cent in South Australia.

In ACT, which is dominated by public sector jobs, the rate rose to 4.4 per cent from 4.2 per cent.

Western Australia saw some growth, with its unemployment rate falling to 4.3 per cent from 4.6 per cent.

Tasmania surprised with a 0.3 percentage point fall to 7.9 per cent despite its soft local economy.

Queensland was flat at 5.9 per cent, as was the Northern Territory at 5.3 per cent.


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Source: AAP


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