Australia: Unemployment rate at eight-month low in December
Seasonally-adjusted employment soared by 50,000 in November, following 90,000 jobs gain in November. December’s result was again driven by an increase in both part-time and full-time employment.
Meanwhile, the seasonally-adjusted unemployment rate fell to 6.6% in December, from November’s 6.8%, beating market expectations of a 6.7% unemployment rate. Moreover, the participation rate rose from 66.1% in November to 66.2% in December. Additionally, the seasonally-adjusted underemployment rate fell from November’s 9.3% to 8.5%.