(Australian Associated Press)
The unemployment rate has ticked down to a seasonally adjusted 5.2 per cent as a surge in part-time work accounted for most of the 39,900 jobs added to the workforce in November.
Thursday’s better-than-expected figures from the Australian Bureau of Statistics featured a 4,200 increase in people with full-time work and 35,700 extra people in part-time as the workforce bounced back from a disappointing October where 19,000 jobs were shed and unemployment rose to 5.3 per cent.
Most economists had expected 15,000 jobs to be added in November and for the unemployment rate to remain unchanged.
Underemployment also ticked lower – falling from 8.5 per cent to 8.3 per cent – while the number of unemployed persons fell 3.3 per cent, from 724,900 to 708,100.
The Australian dollar jumped from 68.60 US cents to as 68.75 within five minutes of the data being released, and was worth 68.68 by 11:45 AEDT on Thursday 19 December.