Views Article – Sharenet Wealth

Australasia, News

Australia employment falls 138,000 in Sept amid lockdowns

SYDNEY, Oct 14 (Reuters) – Australian employment fell sharply for a second month in September as coronavirus lockdowns forced businesses to lay off workers and slash hours, while the jobless rate was held down by another drop in the number of people looking for work.

Thursday’s data from the Australian Bureau of Statistics (ABS) showed employment fell by 138,000 in September, compared to median forecasts of a drop of 137,500.

The unemployment rate edged up to 4.6%, from 4.5%, when analysts had expected a rise to 4.8%. The rate has been badly distorted by lockdowns which prevent people looking for work and being counted as unemployed.

(Reporting by Wayne Cole Editing by Shri Navaratnam)

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.