Australia Jobless Rate Holds at 56-Month Low of 5.4%

Australia's seasonally adjusted unemployment rate came in at 5.4 percent in November of 2017, the same as in the preceding month and in line with market consensus. The jobless rate remained at its lowest since February 2013, as the economy added 61,600 jobs while the number of unemployed increased by 4,100.

In November, the number of unemployed rose by 4,100 to 707,700. The number of unemployed persons looking for full-time work increased by 2,500 to 489,900 and the number of unemployed persons only looking for part-time work went up by 1,700 to 217,800.

Employment increased by 61,600 to 12,403,000, the largest rise since October 2015 and way above estimates of a 19,200 increase: Full-time employment rose by 41,900 to 8,501,900 while part-time employment increased by 19,700 to 3,901,100.

The labour force participation rate rose to 65.5 percent from 65.2 percent in the preceding three months and beating expectations of 65.1 percent. 

Seasonally adjusted aggregate monthly hours worked in all jobs increased 9.8 million hours (0.6 percent) to 1,740.9 million hours. Meantime, the seasonally adjusted employment to population ratio increased to 61.9 from 61.7 in October.

Australia Jobless Rate Holds at 56-Month Low of 5.4%

ABS l Rida Husna |
12/14/2017 1:05:31 AM