Australia Unemployment Rate

Australia’s seasonally adjusted unemployment rate inched higher to 4.0% in December 2024 from November’s eight-month low of 3.9%, matching market estimates. The number of unemployed rose by 10.3 thousand to 604.1 thousand, with those seeking full-time jobs advancing 14.9 thousand to 412.1 thousand while those looking for part-time jobs fell by 4.5 thousand to 192.1 thousand. Meanwhile, employment grew by 56.3 thousand to a new peak of 14.58 million, easily topping forecasts of a 15 thousand gain and picking up from November's 28.2 thousand rise. Part-time employment climbed 80 thousand to an all-time high of 4.55 million, but full-time employment declined 23.7 thousand to 10.04 million. The participation rate edged up to 67.1%, returning to its July peak and surpassing forecasts of 67.0%, which matched November's figures. The underemployment rate ticked down to 6.0% from the prior 6.1%. Monthly hours worked in all jobs rose 10 million to 1,976 million.