Australia's jobless rate remained flat in November despite a 2,000-day job gain, signaling a tightening labor market.
According to the Australian Bureau of Statistics, the unemployment rate last month was 3.4% with employers offering 64,000 additional full-time positions.
It was also indirectly in line with market projections at 3.4% with a net increase of about 15,00 to 20,000 jobs.
Earlier Australia's unemployment rate hit a 50-year low but rebounded in 2022 with the easing of Covid restrictions combined with fewer overseas students and short-term visa holders.
Follow the breakdown of Australian labor data below.
The number of unemployed fell by 7,400 to 491,700 with,
Full-time employment fell 1,100 to 322,900.
Part-time employment fell 8,300 to 168,700.
Employment rose by 64,000 to 13.77 million, above the market forecast of 19 thousand with
Full-time employment added 34,200 to 9,602,500.
Part-time jobs rose 29,800 to 4,167,800.
The participation rate shrank to 66.8% versus a forecast of 66.6%, returning to June 2022 highs.
The unemployment rate fell to 5.8% which is 2.9% below the pre-pandemic level.
Monthly working hours in all government declined by 9 million to 1,901 million hours.
