Unemployment rate drops back to 4.3 percent

Long-term unemployment down 40 percent - Newsreel
The unemployment rate dropped in October. | Photo: Skynesher (iStock)

Unemployment eased last month with more unemployed people moving into employment compared to what is typical for this time of year.

The latest Australian Bureau of Statistics (ABS) data shows the seasonally adjusted unemployment rate fell to 4.3 percent in October.

ABS Head of Labour Statistics Sean Crick said the rate dropped to be in line with June, July, and August figures, after rising to 4.5 percent in September.

Mr Crick said the number of unemployed people fell by 17,000 in the month, while the number of employed people rose by 42,000.

“This month more unemployed people moved into employment compared to a typical October,” he said.

Mr Crick said full-time employment rose by 55,000, with the number of females in full-time employment rising by 29,000 and the number of males rising by 26,000.

He said rising full-time employment contrasted with a fall in part-time employment of 13,000 people.

“The fall in part-time employment was driven by the female workforce, with female part-time employment falling by 21,000 people.”