Australian Employment Soars

Australian employment soared for a third straight month as companies added six times more jobs than economists estimated.

The Australian seasonally adjusted unemployment rate was 5.7 per cent in November, as announced by the Australian Bureau of Statistics. The unemployment rate fell 0.1 per cent, from 5.8 per cent in October.

The number of people employed in November increased by 31,200 (0.3%) to 10.868 million, seasonally adjusted. The rise in employment was driven by a rise in full-time employment, up 30,800 to 7.627 million.

The seasonally adjusted number of people unemployed decreased by 13,300 in November, standing at 653,100.The seasonally adjusted monthly aggregate hours worked series showed a rise in November, up 13.4 million hours (0.9%) to 1,536.3 million hours.

The participation rate in November was 65.2 per cent, seasonally adjusted. The seasonally adjusted labour force underutilisation rate was 13.5 per cent in November, down 0.1 per cent from August.

Australian Employment Soars, ABS
12/9/2009 10:49:37 PM