In November, the labour market shed 6,300 jobs over the previous month in seasonally adjusted terms, contrasting the 16,800 jobs created in October (previously reported: +10,100 jobs). The figure came in below market expectations that no new jobs would be created. The November reading reflected a strong decrease in the number of full-time jobs (+39,900), which could not be compensated by a sizeable increase in part-time positions (+33,600 jobs). Meanwhile, the number of total job seekers rose by 9,400 persons in November (October: -9,600). As a consequence of the increased the number of job seekers, unemployment inched up from 5.2% in October to 5.3% in November, which contrasted market expectations of an unchanged unemployment rate.
Unemployment inches up in November
December 8, 2011
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Australia Economic News
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4.
October 11, 2016
The business confidence index published by the National Australia Bank (NAB) was stable in September at August’s 6 points.
October 5, 2016
Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
October 4, 2016
At its 4 October monetary policy meeting, the Reserve Bank of Australia (RBA) kept its policy rate steady at an all-time low of 1.50% after cutting its rate by 25 basis points twice this year, once in May and once in August.
September 15, 2016
The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.