ABS Unemployment - October- The Takeaways - Jobs created +55k seasonally adjusted, 28.3k trend - Unemployment rate 3.6% sea adj, 3.7% trend - Hours worked +9m sea adj, -2m trend - Participation rate +0.2% to 67.0% sea adj, -0.1% to 66.8% trend - Underemployment flat at 6.3% sea adj, 6.4% trend Believe it or not, this enormously strong seasonally adjusted figure occurred in spite of an extremely weak sample being rotated in and a strong one being rotated out. While trend unemployment continues to rise, its occurring slowly as labour force growth outstrips jobs growth. In my view the chance of a December hike by the RBA increased significantly on the back of these very strong numbers.

I give Labor and Albo a well deserved amount of criticism. However, the LNP are not providing anything meaningful in the way of alternative economic policy. They say they want Labor to stop adding to inflation, but then oppose anything that would remotely accomplish that.

The ANZ Consumer Confidence Index 4 week moving average is at its 2nd lowest level in 30 years. It's worth noting that this period includes the highest Aussie unemployment rate since the Great Depression.