Australia’s unemployment dips in Nov. ’24

Australia’s unemployment rate fell to 3.9 per cent in November 2024, as employment increased by 36,000 people and the number of unemployed individuals decreased by 27,000, the Australian Bureau of Statistics (ABS) reported on Thursday.

In November, there was a higher-than-usual influx of people transitioning from unemployment to employment, which boosted the employment numbers and reduced unemployment figures, said David Taylor, ABS Head of Labour Statistics.

The employment rate in November 2024 grew by 0.2 per cent, consistent with the average monthly increase of 0.3 per cent seen since mid-2024, aligning with population growth trends, the report added.

The participation rate dropped slightly to 67.0 per cent in November from the record high of 67.1 per cent in September. However, it remained stable compared to a year earlier and was 1.5 percentage points higher than in March 2020, according to Taylor.

Attribution: The Australian Bureau of Statistics report

Subediting: M. S. Salama