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Financial News: Australia Jobless Rate Climbs To 5.5% In December

Australia Jobless Rate Climbs To 5.5% In December

01/17/2018 - 20:30:00 (RTTNews)

(RTTNews) - The unemployment rate in Australia came in at a seasonally adjusted 5.5 percent in December, the Australian Bureau of Statistics said on Thursday.

That was above forecasts for 5.4 percent, which would have been unchanged from November.

The Australian economy added 34,700 jobs last month to 12,440,800, beating forecasts for an increase of 15,100 following the upwardly revised 63,600 gain in the previous month (originally 61,600).

Full-time employment increased 15,100 to 8,518,900 and part-time employment increased 19,500 to 3,921,800.

Unemployment increased 20,500 to 730,600. The number of unemployed persons looking for full-time work increased 9,900 to 501,800 and the number of unemployed persons only looking for part-time work increased 10,600 to 228,800.

The participation rate climbed to 65.7 percent, exceeding forecasts for 65.5 percent - which would have been unchanged.

Monthly hours worked in all jobs decreased 4.2 million hours (0.2 percent) to 1,736.4 million hours.

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