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MNI BRIEF: Aussie Unemployment Steady, Despite 65,000 Jobs Lost

(MNI) Melbourne

Australia’s unemployment rate held steady at 3.9% in December, however, those employed dropped by 65,100 – stronger than the expected 15,000 fall.

"The fall in employment in December followed larger than usual employment growth in October and November, a combined increase of 117,000 people, with the employment-to-population ratio and participation rate both at record highs in November," said David Taylor, head of labour statistics at the ABS. "While the December employment fall was large, the number of employed people was still 52,000 higher than September."

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Australia’s unemployment rate held steady at 3.9% in December, however, those employed dropped by 65,100 – stronger than the expected 15,000 fall.

"The fall in employment in December followed larger than usual employment growth in October and November, a combined increase of 117,000 people, with the employment-to-population ratio and participation rate both at record highs in November," said David Taylor, head of labour statistics at the ABS. "While the December employment fall was large, the number of employed people was still 52,000 higher than September."

Keep reading...Show less