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Australia November Unemployment Rate Rises To 5.8%

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Australia posted a seasonally adjusted unemployment rate of 5.8 percent in November, the Australian Bureau of Statistics said on Thursday.

That was in line with expectations and up from 5.7 percent in October.

The Australian economy added 21,000 jobs in November to 11,659,900 - blowing past expectations for an increase of 10,000 following the addition of 1,100 jobs in the previous month.

Full-time employment increased 15,500 to 8,107,900 and part-time employment increased 5,500 to 3,552,000.

The participation rate was 64.8 percent - as expected and unchanged from the October reading.

Unemployment increased 3,400 (0.5 percent) to 712,500. The number of unemployed persons looking for full-time work decreased 3,500 to 517,700 and the number of unemployed persons looking for part-time work increased 6,800 to 194,800.

Aggregate monthly hours worked decreased 11.7 million hours (0.7 percent) to 1,634.4 million hours.

The labor force underutilization rate decreased 0.3 percent to 13.4 percent.

The male labor force underutilization rate decreased 0.2 percent to 11.7 percent. The female labor force underutilization rate decreased 0.3 percent to 15.6 percent.

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