Australia Unemployment Rate

Australia's seasonally adjusted unemployment declined to 4.6% in November 2021 from 5.2% a month earlier and below market estimates of 5%, as COVID-19 lockdowns were lifted. The number of unemployed fell by 69,400 to 636,700, as the number of people looking for full-time work dropped by 40,600 to 419,000, and those looking for only part-time work fell 28,800 to 217,700. Meanwhile, employment increased 366,100 to a record high of 13.17 million, easily beating market forecasts of a 205,000 gain, with part-time employment increasing by 237,800 and full-time employment rising by 128,300. The participation rate advanced 1.4 points to 66.1 percent, beating estimates of 65.5. The underemployment rate was down 2 points to 7.5 percent, and the underutilization rate decreased 2.6 points to 12.1 percent. Monthly hours worked in all jobs increased by 77 million, or 4.5 percent, to 1,801 million hours.