Employment data in Australia surpasses expectations and the unemployment rate is declining.

Data from the Australian Bureau of Statistics on Thursday morning indicated that the employment report figures for Australia for September showed positive results, exceeding expectations. The Australian economy added approximately 64.1 thousand jobs, which is better than market expectations of an addition of around 25.2 thousand jobs. Moreover, it is higher than the previous reading, which showed an addition of about 42.6 thousand jobs in August, after being revised downward from 47.5 thousand jobs.

At the same time, the unemployment rate in Australia remained at 4.1% during September, which was also better than expectations that suggested it would be 4.2%. Additionally, the previous reading was positively revised to show a decrease in the unemployment rate in Australia from 4.2% to 4.1%.

The employment change indicator in Australia is considered one of the measures of consumer spending, as it reflects the performance of economic activity in Australia as a whole. An increase in the reading above expectations is likely to have a positive impact on the Australian dollar (AUD), while a decrease below expectations could lead to a decline in the Australian dollar. In this case, the impact is mixed and neutral on the movement of the Australian dollar.