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Financial News: Australia Unemployment Rate Falls To 4.6% In November

Australia Unemployment Rate Falls To 4.6% In November

12/15/2021 - 20:17:00 (RTTNews)

(RTTNews) - The jobless rate in Australia came in at a seasonally adjusted 4.6 percent in November, the Australian Bureau of Statistics said on Thursday.

That blew away forecasts for 5.0 percent and was down sharply from 5.2 percent in October.

The Australian economy also added 366,100 jobs last month - again crushing expectations for an increase of 205,000 jobs following the loss of 46,300 jobs in the previous month.

The participation rate was 66.1 percent, also beating forecasts for 65.5 percent and up sharply from 64.7 percent a month earlier.

Employment was 181,800 people (1.4 percent) higher than March 2020. Full-time employment increased by 128,300 to 9,052,900 people, and part-time employment increased by 237,800 to 4,124,400 people.

The part-time share of employment was 31.3 percent, 0.5 pts lower than in March 2020.

The unemployment rate was 0.7 pts below March 2020. Unemployed people decreased by 69,400 to 636,700. Unemployed people was 86,600 lower than March 2020.

The youth unemployment rate decreased by 2.2 pts to 10.9 percent. The youth unemployment rate was 0.6 pts lower than March 2020.

Monthly hours worked in all jobs increased by 76.7 million hours (4.5 percent) to 1,801 million hours. It also increased by 35.7 million hours (2.0 percent) from March 2020.

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