Home News Featured News Australia’s rate rises despite record new

Australia’s unemployment rate rises despite record new jobs

Author

Date

Category

- Advertisement -

By HR ASIA

Australia’s rate rose slightly, to 6.3 per cent, in November, despite the creation of more than 40,000 during the month.

The Australian Bureau of Statistics said on Thursday that the number of people employed rose by 42,700 to 11.64 million in November, against market expectations of 15,000 newly employed and compared with a revised 13,700 in October.

The participation rate climbed from 64.6 per cent of the population to 64.7 per cent.

- Advertisement -

“>

It was the fastest pace of jobs growth since March 2012, but also the highest unemployment rate for more than 12 years. Before rounding off, the official unemployment rate climbed from 6.25 per cent to 6.26 per cent.

The figures were much better than expected, and the Australian dollar spiked about half a US cent before retreating a little to settle around US83.60 cents.

However, the ABS said many of the new jobs – in fact 36,400 – were part-time positions for women. A total of 23,300 men were newly employed, offset by a net fall in overall jobs for women of 21,400.

Total full-time employment increased by 1,800 jobs, while the aggregate monthly hours worked dropped 4.4 million hours, or 0.3 per cent.

ANZ said the figures were “slightly better than the market expected, and suggested labour market conditions improved modestly in November”.

news source & image credits: theage.com.au

HR NEWS in ASIA

Via:: http://www.hrinasia.com/hr-news/australias-unemployment-rate-rises-despite-record-new-jobs/

      

Please follow and like us:
Tweet
Share
- Advertisement -

SDP labels MediShield Life “too complicated”, opposes any premium hike

Singapore -- The opposition Singapore Democratic Party (SDP) has criticised the MediShield Life scheme and has opposed an impending premium hike recommended by a council convened to review the mandatory national health insurance scheme. In a statement released on Wednesday (Oct 21),...

Ho Ching slips to 20th spot in Fortune’s “Most Powerful Women International” list

Fortune magazine has ranked Singapore sovereign wealth fund Temasek's CEO Ho Ching as the 20th most powerful woman outside the United States in its 2020 "Most Powerful Women International" rankings. The American multinational business publication noted that Ms Ho "has a bigger...

Covid-19 vaccination likely to begin in Singapore next year: A/Prof Kenneth Mak

Singapore -- The Ministry of Health's (MOH) Director of Medical Services, Associate Professor Kenneth Mak, has announced that Covid-19 vaccination will most likely be rolled out in Singapore from 2021. Speaking at a virtual press conference on Tuesday (Oct 20), A/Prof Mak...
Please follow and like us:
Tweet
Share
close

Like and follow us

Follow Me
Tweet