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

Forex

Economic

Summary:

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

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

Risk Disclosure

The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

No decision to invest should be made without thoroughly conducting due diligence by yourself or consulting with your financial advisors. Our web content might not suit you since we don't know your financial conditions and investment needs. Our financial information might have latency or contain inaccuracy, so you should be fully responsible for any of your trading and investment decisions. The company will not be responsible for your capital loss.

Without getting permission from the website, you are not allowed to copy the website's graphics, texts, or trademarks. Intellectual property rights in the content or data incorporated into this website belong to its providers and exchange merchants.

Recent Searches

Top Searches

Markets

Analysis

User

24/7

Economic Calendar

Education

Data

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

Source: Investing

Risk Disclosure