Australia loses 29,500 jobs in September, the unemployment rate rises to 6.9%; AUD / USD falls to week lows

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Australia lost 29,500 jobs in September, up from 35,000 expected, after 111,000 jobs were gained in August.

This is the first month of job loss after three consecutive months of job creation.

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Of the 29,500 jobs lost, 20,100 are in full-time jobs, while 9,400 are part-time jobs. The unemployment rate has grown one tenth, from 6.8% prior to 6.9%, improving the estimated 7.1%. The participation rate has remained unchanged at 64.8%.

AUD / USD reaction

He AUD/USD remains pressed down. The pair had lost more than 40 pips before the Australian data. After the release it has extended its decline to 0.7123, a new one-week low. At time of writing, the pair is trading above 0.7133, 0.40% below its opening price.

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Credits: Forex Street

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