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Australia: Labor market beats expectations in October
Latest reading: The seasonally adjusted unemployment rate eased to 4.3% in October from 4.5% in September, below market expectations. The number of unemployed people declined in October, with fewer individuals seeking both part-time and full-time work.
Meanwhile, overall employment rose by 42,200 in October, following a revised 12,700 increase in September. October’s reading was above market forecasts and marked a new high. Full-time positions expanded while part-time roles contracted.
