Australia: Unemployment rate in November falls again
December 10, 2015
In November, the labor market gained 71,400 jobs compared to the previous month, in seasonally-adjusted terms. The increase was an improvement over October’s 56,100 increase. November’s tally also surprised markets, which had expected a much smaller 10,000 job increase in November. November’s result was driven by increases in both the number of full-time and part-time jobs. The number of part-time positions increased by 29,700 jobs (October: +17,700 jobs), while the number of full-time positions rebounded and rose by a strong 41,600 jobs (October: +38,400 jobs).
The labor market participation rate inched up to 65.3% in November from 65.0% in October. Due to the increase in the number of jobs offsetting the increased participation rate, the unemployment rate in November inched down from 5.9% in October to 5.8%.
Author: Robert Hill, Economist