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Australia Unemployment Rate Sinks To 6.6% In December

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The jobless rate in Australia fell to a seasonally adjusted 6.6 percent in December, the Australian Bureau of Statistics said on Thursday.

That was below expectations for 6.7 percent and down from 6.8 percent in November.

The Australian economy added 50,000 jobs last month, in line with expectations following the addition of 90,000 jobs in the previous month.

Full-time employment increased by 35,700 jobs to 12,910,800 following the increase of 84,200 jobs in November. Part-time jobs gained 14,300 jobs following the addition of 5,800 jobs in the previous month.

Over the year to December 2020, full-time employment decreased by 75,900 people and part-time employment increased by 12,000 people.

The participation rate was 66.2 - matching forecasts and up from 66.1 a month earlier. Monthly hours worked increased by 2 million hours.

Unemployed people decreased by 30,100 to 912,000 and increased by 221,700 over the year to December 2020.

The youth unemployment rate decreased 1.7 pts to 13.9 percent and increased by 2.3 pts over the year to December 2020.

Over the year to December 2020, employment decreased by 0.5 percent or 63,900 people. The part-time share of employment over the past 12 months, increased 0.3 pts to 32.1 percent.

Monthly hours worked in all jobs increased by 1.686 million hours (0.1 percent) to 1,753 million hours. They fell 1.5 percent over the year, which is larger than the 0.5 percent decrease in employed people.

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