New figures show the economy added far more jobs than it lost in October as restrictions eased and the economic recovery continued.
But the unemployment rate climbed from 6.9 per cent to 7 per cent as more people re-entered the workforce.
The Australian Bureau of Statistics counted an extra 25,500 Australians as officially unemployed in October, taking the overall number to 960,900.
That’s nearly 240,000 more than October 2019.
But the ABS also reported on Thursday that almost 180,000 Australians regained employment in October – a sizeable jump of 1.4 per cent – as restrictions eased and businesses looked to fill more positions.
“This strong increase means that employment in October was only 1.7 per cent below March, and reflects a large flow of people from outside the labour force back into employment,” said Bjorn Jarvis, head of Labour Statistics at the ABS.
“Encouragingly, the rise in employment was also accompanied by a strong rise in hours worked, particularly in Victoria, where hours increased by 5.6 per cent.”
The promising news comes after ANZ Research reported on Tuesday that consumer confidence had risen for the 11th straight week on the back of promising news on the vaccine front.
But separate data from the ABS that has pointed to renewed job-shedding among smaller businesses.
More to come
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