The Australian Bureau of Statistics (ABS) will release its October monthly employment report at 00:30 GMT on Thursday (11/14). The country is expected to have added 25,000 new jobs, while the Unemployment Rate is expected to remain steady at 4.1%. The Australian Dollar (AUD) is trading near a multi-week low against the US Dollar (USD) ahead of the event amid continued USD demand, with the AUD/USD pair trading just above the 0.6500 mark.
The ABSEmployment Change report separates full-time jobs from part-time jobs. By definition, full-time jobs mean working 38 hours or more per week and usually include additional benefits, but mostly represent consistent income. Part-time jobs, on the other hand, generally offer a higher hourly rate but lack consistency and benefits. This is why full-time jobs carry more weight than part-time jobs when determining the direction of the AUD.
The September report showed that the Oceanian nation created 51.6K full-time jobs and 12.5K part-time positions, resulting in a Net Employment Change of 64.1K. The Unemployment Rate, currently, stands at 4.1% for the second straight month.
Source: FXStreet
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