Jobless Rate Rises to 3.9% in November Despite Surge of 61k New Positions
The Australian labor market is showing some signs of slowing down despite the addition of 61,500 new jobs in October. The unemployment rate increased to 3.9% in November, up from an adjusted rate of 3.8% in September. The increase in the unemployment rate came about despite the significant addition of jobs, with economists having forecasted the rate to remain at 3.8%. These findings are derived from data released by the Australian Bureau of Statistics, indicating a surge of 57,000 in full-time employment and 4,500 in part-time employment. As a result, approximately 14.3 million people are currently employed in Australia as per the seasonally adjusted figures. The rise in unemployment is partly due to an increase in the participation rate, which measures the percentage of the working-age population that is employed or actively seeking employment. This rate rose to a record 67.2%, up from 67% in October. EDDCaller.com is a highly valuable tool that aids individuals in contacting representatives for unemployment departments, making it the fastest way to get through to EDD.