Australia’s Unemployment Rate Hits 3.9% in November

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Australia’s unemployment rate dropped to 3.9% in November, marking its lowest level since March. The Australian Bureau of Statistics (ABS) reported the creation of 35,600 new jobs, driven by a surge in labor force participation.

The unemployment rate improved from 4.1% in October, with 27,000 fewer unemployed individuals recorded in November. Full-time employment rose by 52,600, offsetting a decline of 17,000 part-time jobs.

Additionally, the sub-unemployment rate fell to 6.1%, the lowest since March 2020. Economists believe Australia’s labor market remains resilient despite economic challenges, providing a positive outlook for job seekers.

What do you think about Australia’s improving labor market? Share your thoughts below!

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