Australia Jobless Rate Edges Up to 5.1% in November

Australia's seasonally adjusted unemployment rate inched higher to 5.1 percent in November of 2018 from a 6-1/2-year low of 5 percent in the previous two months and slightly above market consensus of 5 percent. The economy added 37,000 jobs while the number of unemployed increased 12,500.

In November, the number of unemployed increased by 12,500 to 683,100, as people looking for full-time work rose 24,800 to 470,000, while those looking only for part-time work fell 12,200 to 213,200. Male unemployment went up 11,500 persons and female unemployment rose 1,000 persons.

Employment surged 37,100 to 12,694,300, easily beating market consensus of an increase of 20,000. Part-time employment increased 43,400 to 4,009,600, while full-time employment decreased 6,400 to 8,684,600.

The labor force participation rate rose 0.2 points from a month earlier to 65.7 percent and slightly above forecasts of  65.6 percent. Meantime, the employment to population ratio rose by 0.1 percentage points to 62.3 percent.

Seasonally adjusted monthly hours worked in all jobs decreased 3.3 million hours, or 0.2 percent, to 1,759.5 million hours.

Australia Jobless Rate Edges Up to 5.1% in November

ABS l Rida |
12/20/2018 1:41:23 AM