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Australia - Unemployment
Employment rebounds sharply in November

Seasonally-adjusted employment jumped by 39,900 in November, following a revised 24,800 job shed in October (previously reported: -19,000). November’s result beat market expectations of a 14,000 jobs addition and was driven by an increase in both full-time and part-time employment.

Seasonally-adjusted unemployment inched down to 5.2% in November, reversing October’s uptick. Moreover, the seasonally-adjusted underemployment rate decreased to 8.3% in November, from 8.5% in October, while the seasonally-adjusted participation rate was stable at October’s 66.0%.

FocusEconomics panelists expect the unemployment rate to average 5.2% in 2020, unchanged from last month’s estimate, and also 5.2% in 2021.

focus-economics.com

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