The nation’s unemployment rate has remained steady at 4.3 per cent, adding little fuel to widespread speculation over the future movements of the Reserve Bank of Australia (RBA).
Full-time employment fell by 57,000 people in November, with 40,000 males and 16,000 females exiting the workforce.
Part-time employment, perhaps bolstered by Christmas casual positions, rose by 35,000 people.
A boom in part-time Christmas jobs may have bolstered November’s figures. (Kate Geraghty)
ABS head of labour statistics Sean Crick said despite sweeping changes to employment factors, the headline figure has remained largely stable.
“The unemployment rate has remained at 4.3 per cent in five of the last six months,” he said.
“Both the number of unemployed and employed people fell in November, by 2000 and by 21,000 respectively.”
Today’s unemployment result, which was largely forecast by financial markets and economists alike, does little to clear the clouds from the crystal balls of RBA watchers.
Unemployment is steady and historically low, with many predicting there may be as little as one hike in 2026.
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