Australian jobs data lift aussie

The UK’s unemployment rate has fallen to its lowest level since April 2008, according to the Office for National Statistics (ONS).

There were 1.75 million unemployed Britons in the third quarter, down by 103,000 from the June quarter.

Workers in the hospitality worked on average 28.8 hours a week between July and September 2015, up 2.5% on last years figures.

The ABS revealed the participation rate, which refers to the number of people either employed or are actively looking for work, rose to 65% from 64.9% in September.

“A strong labour market might not necessarily prevent further rate cuts if underlying inflation fell further”, Capital Economics chief Australia and New Zealand economist Paul Dales said in a note.

Excluding bonuses, average weekly earnings growth also slowed noticeably to 2.5 per cent in the third quarter and 1.9 per cent in the month of September – both the weakest readings since the first quarter of 2015.

Mr. Oliver said it was hard to deny that a more encouraging trend in the job market was beginning to emerge, following several months of data that have shown no major deterioration in employment conditions.

When the Government said 10 years ago that South Australia had to transition its economy, no one expected that transition would be from full-time employment to part-time employment.

The British Pound lost 0.25% versus the US Dollar after today’s United Kingdom employment data, as the unemployment rate unexpectedly fell, but wage growth slowed.

It comes after the latest Bank of England inflation report, released last week, indicated it was unlikely to raise rates soon.

There are also still hundreds of thousands of people claiming unemployment benefits and the number is rising.

Broadly speaking, employment conditions are likely to have remained solid at the start of Q4, given the continuing rebalancing of growth away from resource investment towards the more labour-intensive sectors of residential construction and services exports.

Non-UK nationals from the European Union working in this country increased by 324,000 to 2.02 million over the past year, while the figure for non-UK nationals from outside the European Union was little changed at 1.2 million.