Unemployment rate jumps to 7% but 178,800 new jobs are created as Aussies return to work after Covid-19 lockdowns
Australia recorded a surge in employment in October as Victoria came out of its crippling lockdown.
Some 178,800 Aussies got jobs, including81,000 Victorians who were locked in their homes for three months due to a second wave of Covid-19.
The positive number came as a surprise to economists who predicted a 30,000 fall in the number of jobs.
The increase did not stop the unemployment rate ticking up slightly from 6.9 to seven per cent as thousands started looking for work once more.
The participation rate, which measures those in work and people actively seeking a job, rose to 65.8 per cent from 64.9 per cent previously.
The government hailed the news as proof the economy was recovering well from the Covid-19 recession.
'Today's job numbers confirm that Australia's economic recovery is gaining momentum,' Treasurer Josh Frydenberg told reporters in Melbourne on Thursday.
'There is a light at the end of the tunnel.'
Full-time employment increased by 97,000, while part-time employment rose by 81,800, Australian Bureau of Statistics data released on Thursday shows.
'This strong increase means that employment in October was only 1.7 per cent below March,' ABS head of labour statistics Bjorn Jarvis said, referring to the start of the coronavirus pandemic.
During Australia's national lockdown, from March to May, jobs fell 872,000. Since then, they have risen 648,000 recouping three-quarters of the drop.
'The data clearly indicate that the positive health outcomes and fiscal and monetary support are all helping to propel a rebound in activity,' said Sarah Hunter, economist at BIS Oxford.
国际清算银行牛津分部(BIS Oxford)经济学家萨拉·亨特(Sarah Hunter)说，数据清楚地表明，积极的健康结果以及财政和货币支持都有助于推动经济活动的反弹。
'Assuming the pandemic remains under control, most particularly that the current lockdown in South Australia snuffs out the outbreak there, the recovery should continue going into 2021.'