Australia: Unemployment rate stable in November
Seasonally-adjusted employment increased by 64,000 in November, following 43,100 jobs added in October. Novembers result was driven by an increase in full-time employment as well as in part-time employment.
Meanwhile, the seasonally-adjusted unemployment rate was stable at Octobers 3.5% in November. Moreover, the participation rate was steady at Octobers 66.7%, as did the seasonally-adjusted underemployment rate, unchanged from Octobers 5.9% in November.
FocusEconomics panelists project the unemployment rate to average 4.0% in 2023, down 0.1 percentage points from last months estimate, and 4.3% in 2024.