• Employment rose by 54,600 in November, well above forecasts centred on job gains of around 20,000 (range from +5,000 to +35,000 jobs). The October result was revised up to show job growth of 36,900
  (previously showed a rise of 29,700). Full-time employment rose by 55,100 (October jobs were down by 7,600) and part-time jobs fell by 400 (October jobs rose by 44,500).
• The unemployment rate fell from 5.4 per cent to 5.2 per cent. The participation rate rose from 65.9 per cent to a record high of 66.1 per cent. The working age population rose by 20,100.
• Average hours worked were largely flat (up 0.04 per cent) in November but were up by 3.1 per cent over the year.
• Across the states and territories unemployment rates in November were: NSW 5.1 per cent (5.4 per cent in October); Victoria 5.5 per cent (5.6 per cent); Queensland 5.5 per cent (5.6 per cent); South Australia 5.6 per cent (5.7 per cent); Western Australia 4.5 per cent (4.7 per cent); Tasmania 5.4 per cent (5.2 per cent); Northern Territory 3.1 per cent (3.1 per cent); ACT 3.1 per cent (3.1 per cent).

Click here to download this document (pdf)

The post Employment soars; productivity now in focus appeared first on AdviserVoice.