Australia: Employment rebounds sharply in November
Seasonally-adjusted employment jumped by 39,900 in November, following a revised 24,800 job shed in October (previously reported: -19,000). November’s result beat market expectations of a 14,000 jobs addition and was driven by an increase in both full-time and part-time employment.
Seasonally-adjusted unemployment inched down to 5.2% in November, reversing October’s uptick. Moreover, the seasonally-adjusted underemployment rate decreased to 8.3% in November, from 8.5% in October, while the seasonally-adjusted participation rate was stable at October’s 66.0%.