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1.Market Observations, 8.Was Sticky

21 Oct 2016 (AFR) – Another ABS jobs snafu leaves some economists wondering

(21 October 2016, AFR, p11, by Jacob Greber)

‘The Australian Bureau of Statistics has again left traders and economists wondering about the quality of official jobs data after discounting a significant proportion of responses from Queenslanders because their answers looked too strange. Despite the fresh doubts, the overall labour force report missed expectations for a gain in jobs during September – triggering a plunge in the Australian dollar. Even though the jobless rate fell to 5.6 per cent, employment slipped by 9800, led by a 53,000 collapse in part-time work, the biggest decline in 5.5 years which was potentially partially linked to a reversal in hiring for the Census in August.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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