Australia Unemployment November 2020

Australia

Australia: Unemployment rate drops in November

December 17, 2020

Seasonally-adjusted employment soared by 90,000 in November, following revised 180,400 jobs gain in October (previously reported: +178,800). November’s result was again driven by a jump in both part-time and full-time employment. Analysts had expected employment to increase by 50,000.

Meanwhile, the seasonally-adjusted unemployment rate fell to 6.8% in November, from October’s 7.0%, beating market expectations of a 7.0% unemployment rate. Moreover, the participation rate rose from 65.8% in October to 66.1% in November. Additionally, the seasonally-adjusted underemployment rate fell from October’s 10.4% to 9.4%.

FocusEconomics panelists project the unemployment rate to average 7.2% in 2021, down 0.1 percentage points from last month’s estimate, and 6.2% in 2022.


Author: Massimo Bassetti, Senior Economist

Sample Report

Looking for forecasts related to Unemployment in Australia? Download a sample report now.

Download

Australia Unemployment Chart


Australia Unemployment November 20 20

Note: Seasonally-adjusted unemployment rate in % and new jobs in thousands.
Source: Australian Bureau of Statistics.


Australia Economic News

More news

Search form