The Australian labour market report for November 2020 ... another great report after the upside blowout in jobs the previous month also
Employment Change: -90K to smash expectations a second month in a row
expected 40.0K, prior +180.4K, revised from 178.8K (this was a huge beat)
Unemployment Rate: 6.8%
expected 7.0%, prior 7.0%
Full-Time Employment Change: +84.2K ... have a look at p/t jpobs below, the added jobs this month are nearly all full-time
prior was 97.0K
Part-Time Employment Change: +5.8K
prior was 81.8K
Participation Rate: 66.1% .... note this has risen even as unemployment has dropped, another good positive from this report.
expected 65.8%, prior was 65.8%
The underemployment figure has dropped 1% also, to 9.4% ..... this is an encouraging report.
- the 'underutilisation rate' (which is unemployment + underemployment) is 16.2%
It remains to be seen where to from here, but this is better news. Further gains in employment are needed to make inroads into the still 950K (just under) unemployed.
