The unemployment rate climbed to a seasonally adjusted 5.3 per cent in October as the economy lost 19,000 jobs during the month.
Thursday’s worse-than-expected result featured a 10,300 decrease in people with full-time work and a 8,700 decrease in people with part-time work, according to data from the Australian Bureau of Statistics.
Most economists had expected the unemployment rate to remain unchanged and the Australian dollar dropped from 68.37 US cents to 68.11 within five minutes of the data being released.
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