Australia's Unemployment Rate Stays Steady, Job Market Uncertainty Persists
Update: 2025-12-11
Description
Australias unemployment rate remains steady at 4.3%, despite a loss of over 20,000 jobs, making it challenging for the Reserve Bank to gauge the job markets strength. Novembers ABS figures showed a lower-than-expected unemployment rate, but a surprising drop of 21,300 jobs. Full-time employment decreased by 57,000, while part-time work rose by 35,000. The employment growth of 1.3% over the past year is lower than the population growth of 2%, raising concerns about the unemployment rate not rising as predicted. Reserve Bank governor Michele Bullock hinted at a potential interest rate increase in February if inflation and job numbers dont tighten financial conditions. Additionally, increased consumer spending, particularly on entertainment, suggests the economy may be operating at or above capacity, fueling discussions about inflation and higher interest rates.
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