Australian unemployment rate expected to stabilize for third consecutive month in September
- The Australian Unemployment Rate is foreseen stable at 4.2% in September.
- Employment Change is expected at 25K, focus will be on the details.
- AUD/USD is technically bearish, so any data-inspired spike may attract sellers.
The Australian Bureau of Statistics (ABS) will release the monthly employment report at 00:30 GMT on Thursday. The country is expected to have added 25K new positions in September, while the Unemployment Rate is foreseen stable at 4.2%. The Australian Dollar (AUD) has weakened against the US Dollar (USD) ahead of the event, with the AUD/USD pair trading below the 0.6700 mark.
The ABS reports Employment Change separating full-time from part-time positions. According to its own definitions, full-time jobs imply working 38 hours per week or more and usually include additional benefits, but they mostly represent consistent income. On the other hand, part-time employment generally means higher hourly rates but lacks consistency and benefits. That’s why full-time jobs have more weight than part-time ones when setting the directional path for the AUD.
Back in August, the monthly employment report showed that Australia managed to create 50.6K part-time jobs while losing 3.1K full-time positions, resulting in a net Employment Change of 47.5K. The Unemployment Rate, in the meantime, stayed at 4.2%.
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