Australia Jobs Unexpectedly Fall In Nov; Unemployment Rate Steady At 4.3%

Australia's labour market weakened in November as the number of full-time workers declined sharply, although the jobless rate held steady, the Australian Bureau of Statistics (ABS) said on Thursday.

The seasonally adjusted unemployment rate remained at 4.3%, unchanged from October, and missed market estimates of 4.4%.

Employment declined by 21,300 in November, contrasting forecasts of a 20,000 increase, and reversed from a 41,100 rise seen in October.

Full-time roles fell by 57,000, with men accounting for 40,000 of the decline. Part-time work rose by 35,000, partly offsetting the losses, with female part-time employment increasing by 29,000.

The participation rate slipped by 0.2 percentage points to 66.7%, reflecting fewer people engaged in the labour market.

ABS head of labour statistics Sean Crick said both employment and unemployment levels eased, contributing to a narrower pool of active jobseekers. He added that employment growth over the past year, at 1.3%, has lagged population growth of 2%.

The report comes after the Reserve Bank of Australia held interest rates unchanged earlier this week, citing rising inflationary risks.

Source: Investing