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Australia employment falls 138,000 in Sept amid lockdowns By Reuters

© Reuters. A window with a job posting in Sydney shows customers at the local café. This was taken May 9, 2016, at 9:09 PM. Picture taken May 9, 2016. REUTERS/Steven Saphore/Files

SYDNEY, (Reuters) – The Australian job market fell for a second consecutive month in September due to coronavirus lockdowns that forced companies to cut hours and layoff workers. Meanwhile, the unemployment rate was held low by another decline in people searching for work.

The Australian Bureau of Statistics (ABS), Thursday’s data, showed that employment declined by 138,000 in September compared with median predictions of a decline of 137,000.

Analysts had predicted a 4.8% rise in unemployment. However, the rate actually rose to 4.6% from 4.5%. This is due to lockdowns, which stop people from searching for work and making them counted unemployed.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.