This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
The Australian dollar jumped slightly upon the news. AUD/USD jumped from 0.7177 to 0.7799.
ABS Chief Economist Bruce Hockman said both trend unemployment and underemployment rates havealso dropped since August.
“As a result, underutilisation in Australia was at its lowest level since late 2013, at 13.6 per cent." Mr Hockman said.
According to the ABS, seasonly adjusted terms show 44,000 new jobs added to in total, almost double what was expected (18,000).
Participation rates jumped slightly higher by 0.2% to 65.7%, and the seasonally adjusted unemployment rate remained steady at 5.3 % as economists predicted.
While full-time employment rose 33,700 in seasonally adjusted terms, part time rose by 10,200.
The underemployment rate also dropped to 8.1%, while full-time employment increased in August by 21,000.
"For those people aged 15 to 64 years, trend participation was the highest on record. Female participation in this age group, at 73.2 per cent, was also a record high," Mr Hockman said.