SYDNEY (Reuters) – Australian employment rose by more than what was forecast in November, while the jobless rate posted a shock decline to an eight-month low indicating the labour market was proving far more resilient than policy makers expected.
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Figures from the Australian Bureau of Statistics on Thursday showed net employment rose 35,600 in November from October, when they increased by a revised 12,200. That was above market forecasts for a 25,000 rise, while annual jobs growth slowed just a little to 2.4%.
The jobless rate dropped to 3.9%, from 4.1%, confounding analysts who had looked for a rise to 4.2%. The participation rate edged down to 67.0%, from 67.1%, while hours worked were flat.
2024-12-12 00:52:04
