Employment in October 2013 took a setback (‘000):
The economy lost 98.5k jobs in October, which to be fair isn’t all that unusual – the October-November period usually sees a reduction in employment due to people leaving the workforce (‘000):
However, net job losses are a little higher than normal, which results in a higher unemployment rate:
Given the known volatility of the series, I don’t doubt this is temporary, and we should see the the unemployment rate falling back to around the 3.1% level next month. I’ll start getting worried if it stays where it is.
October 2013 Employment Report from the Department of Statistics (warning: pdf link)