Australia Loses 24,400 Jobs as Bureau Revises Employment Data - Bloomberg

Australia Loses 24,400 Jobs as Bureau Revises Employment Data - Bloomberg: "Australia’s labor market is weaker than previously reported, the nation’s statistics bureau said in a review released today, sending the currency lower as traders bet on an extended interest-rate pause.

The total number of Australians employed in September was 24,400 fewer than previously reported and the jobless rate was 6.2 percent, compared with the prior 6.1 percent, the Australian Bureau of Statistics said in a statement today.

The ABS said last month, when it ordered the review, that it was unable to explain a sudden bout of volatility in labor figures. It said anything from new survey questions to a waning mining boom prompted the seasonal adjustment of raw data to show a record 121,000 jobs gain in August, and if applied in September, a 172,000 loss."



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