The Australian Bureau of Statistics reported that the unemployment rate in Australia fell to a seasonally adjusted 3.9% in November. This figure surpassed expectations, which were set at 4.2%, and showed an improvement from October's rate of 4.1%.
The Australian economy saw an impressive increase in employment, adding 35,600 jobs last month. This growth exceeded the anticipated addition of 26,000 jobs, following a rise of 15,900 jobs in the previous month.
Breaking down the employment figures, full-time employment rose sharply by 52,600, bringing the total to 10,068,100 individuals. Conversely, part-time employment saw a decrease of 17,000, resulting in a total of 4,467,400 part-time workers.
The participation rate was recorded at 67.0%, slightly below the forecasted 67.1%, which would have indicated no change from the previous figure.
Finally, the total monthly hours worked in the economy decreased to 1,965 million.
The material has been provided by InstaForex Company - www.instaforex.com
The Australian economy saw an impressive increase in employment, adding 35,600 jobs last month. This growth exceeded the anticipated addition of 26,000 jobs, following a rise of 15,900 jobs in the previous month.
Breaking down the employment figures, full-time employment rose sharply by 52,600, bringing the total to 10,068,100 individuals. Conversely, part-time employment saw a decrease of 17,000, resulting in a total of 4,467,400 part-time workers.
The participation rate was recorded at 67.0%, slightly below the forecasted 67.1%, which would have indicated no change from the previous figure.
Finally, the total monthly hours worked in the economy decreased to 1,965 million.
The material has been provided by InstaForex Company - www.instaforex.com