Australia: Unemployment rate stable in December
January 14, 2016
In December, the labor market lost 1,000 jobs compared to the previous month, in seasonally-adjusted terms. The decrease was a drastic deterioration over November’s 74,900 increase. December’s tally surprised markets, which had expected a much larger decrease of 12,500 jobs in December. December’s result was driven by an increase in the number of full-time jobs, and a decrease in the number of part-time jobs. The number of part-time positions fell by 18,500 jobs (November: +27,600 jobs), while the number of full-time positions increased by 17,600 jobs (November: +47,300 jobs).
The labor market participation rate inched down to 65.1% in December from 65.3% in November. The unemployment rate held steady at November’s 5.8% in December.
Author: Robert Hill, Economist