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Principale » Jobs growth hit two year high in November

Jobs growth hit two year high in November

14 Décembre 2017

Australian employment sprinted ahead for a 14th straight month in November, the longest stretch of gains since the early 1990s, while the jobless rate remained at the previous month's near five year low. Australia's annual jobs growth rate at 3.2 percent is more than twice the US pace of 1.4 percent and the second fastest on record.

The detail in Thursday's data was also upbeat with full-time jobs climbing 41,900, bringing gains since November 2016 to a blistering 304,600.

At 68.8 per cent, the rate hit its highest level in more than two years in a sign people are coming back into the jobs market. The unemployment rate was 5.4 percent, in line with forecasts and unchanged from the previous month, which was the lowest reading since February 2013.

Only Western Australia recorded a higher seasonally adjusted unemployment rate.

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"But there is still a lot more work to be done, what it does indicate though that we're heading in the right direction is over the last 12 months, South Australia's recorded a bigger drop in its unemployment rate than anywhere else."
"Trend employment has increased by 2.1% over the past year, which is above the average year-on-year growth over the past 20 years of 1.9%".

Figures out last week showed Australia's economy accelerated at an annual 2.8 percent pace in the third quarter, but household consumption, which accounts for 58 percent of the country's gross domestic product, rose just 0.1 percent.

Jobs growth hit two year high in November