MNI BRIEF: Aussie Unemployment Steady, Jobs Creation Contracts

Australia’s unemployment rate held steady at 4.3% in November, coming in 10 basis points lower than expected, while employment unexpectedly fell by 21,300, against forecasts for a 20,000 gain, according to Australian Bureau of Statistics data released Thursday.

Full-time employment dropped 57,000, including a fall of 40,000 among men and 16,000 among women. Part-time employment partly offset this decline, rising 35,000, driven by a 29,000 increase in female part-time workers and a 6,000 rise among men.

“With the fall in the number of employed and unemployed people in November, the participation rate fell by 0.2 percentage points to 66.7%,” said ABS Head of Labour Statistics Sean Crick said. “The number of employed people has risen 1.3% over the past 12 months, which is weaker than the 2.0% growth in population."

The employment-to-population ratio fell 0.2 pp to 63.8%. Hours worked were flat on the month and up 1.2% from November 2024.