Australia's unemployment rate falls to 3.9pc in November, down from 4.1pc in October, while
The national unemployment rate declined to 3.9 per cent in November as the number of people in employment increased by 35,600.Bureau of Statistics data show the number of people in employment increased by 35,600, while the number of unemployed fell by 27,000, in seasonally adjusted terms.
In November, the Reserve Bank was forecasting the unemployment rate to creep up to 4.3 per cent by the end of this year, and for wages growth to keep slowing as labour market conditions ease.After months of saving, households are starting to feel confident enough to spend. Some economists say it is an early indication the stage 3 tax cuts are finally having an impact.
But ABS officials say there were a higher than usual number of people moving into employment in November who were unemployed and waiting to start work in October, which contributed to the noticeable decline in the unemployment rate."The recent growth in population has boosted the labour supply as employment has kept up with population growth," David Taylor, ABS head of labour statistics, said.
The underemployment rate also declined in November, by 0.1 percentage points to 6.1 per cent. It is now sitting 2.6 percentage points lower than in March 2020. "Compared with outcomes before the COVID-19 pandemic, the unemployment and underemployment measures are still low, while trend employment and participation measures are around all-time highs," Mr Taylor said.Photo shows A collage made up of photos of Ani and her sister, her sister Kinisimere, generic invoices and ants.
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