Australia Sees Fewer Job Creations in September

Australia economy lost 29,700 jobs in September, compared to a Reuters’ estimate for a rise of 20,000 jobs, government data showed on Thursday.

The Australia Bureau of Statistics (ABS) also revised August employment downwards to a rise of 32,100 from a 121,000 gain, in a widely expected move after it unveiled plans Wednesday to restate employment figures to account for an absence of seasonal patterns usually seen in July, August and September.

The August figure had been so far above expectations that analysts had doubted its credibility. The figures now reported from July to September are from the raw, unadjusted series which can be extremely volatile.  Meanwhile, jobless rate for September came in at 6.1 percent, in line with expectations. The jobless rate for August was revised to 6 percent from the initial reading of 6.1 percent.

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