Australia: Unemployment rate at 10-month low in January
Seasonally-adjusted employment increased by 29,100 in January, following 50,000 jobs gain in December. January’s result was driven by an increase in full-time employment more than outweighing falling part-time employment.
Meanwhile, the seasonally-adjusted unemployment rate fell to 6.4% in January, from December’s 6.6%, marking the lowest reading since March 2020. Additionally, the seasonally-adjusted underemployment rate fell to 8.1% from December’s 8.5%. Meanwhile, the participation rate dipped from 66.2% in December to 66.1% in January.