Australia: Unemployment inches up in November
December 8, 2011
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.
Author: Armando Ciccarelli, Head of Data Solutions