Australia: Unemployment rate at nine-month low in December
January 23, 2020
Seasonally-adjusted employment rose by 28,900 in December, following a revised 38,500 job addition in November (previously reported: +39,900). December’s result easily beat market expectations of a 15,000 jobs addition although it was driven by an expansion in part-time employment which more than offset a slight dip in full-time employment.
Seasonally-adjusted unemployment inched down to 5.1% in December, from November’s 5.2%, and marked both a second consecutive drop and the lowest level since February. Meanwhile, the seasonally-adjusted underemployment rate remained steady at 8.3% in December, and the seasonally-adjusted participation rate was also unchanged at November’s 66.0% in the last month of 2019.