Australia: Unemployment rate stable in December
Seasonally-adjusted employment decreased by 14,600 in December, following 58,300 jobs added in November. Decembers result was driven by a decrease in part-time employment more than offsetting an increase in full-time employment.
Meanwhile, the seasonally-adjusted unemployment rate was stable at Novembers 3.5% in December. Moreover, the participation rate was steady at Novembers 66.7%, as did the seasonally-adjusted underemployment rate, unchanged from Novembers 6.0% in December.
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.