Australia’s unemployment rate remained steady in October, but there were fewer people looking for jobs and fewer hours being worked.
Official figures released on Thursday showed the unemployment rate remained at 5.4 per cent in October, with 10,700 extra people finding employment in the month.
However, the percentage of working age Australians either employed or looking for work declined by 0.1 to 65.1 per cent, figures released by the Australian Bureau of Statistics showed.
Commsec economist Savanth Sebastian said the figures suggested the labour market was treading water amid a period of weak consumer confidence and concerns about a possible downturn in the global economy.
‘Employers aren’t keen to hire unless they have to, given the global uncertainty,’ he said.
‘But while jobs are being lost in some industries, clearly they are being created in other industries.’…
Choosen excerpts by JMM from
Job Market Monitor 
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