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Australian unemployment rate drops to 5.2%: ABS

The Australian unemployment rate dropped to 5.2 percent in November falling 0.2 percentage points after moving 0.2 percentage points higher in October on the back of increased workforce participation, as announced by the Australian Bureau of Statistics (ABS) today.

Unemployment RateThe ABS reported the number of people employed increased by 54,600 people to 11.417 million, seasonally adjusted, in November. The rise in employment was driven by an increase in full-time employment, up 55,100 people to 8.033 million, that was slightly offset by a decrease in part-time employment, down 400 people to 3.384 million.

The number of people unemployed decreased by 19,500 people to 627,800 in November, reported the ABS.

The ABS seasonally adjusted monthly aggregate hours worked series showed a rise in November, up 0.7 million hours to 1,603.1 million hours.

The ABS reported the highest level of labour force participation in November of 66.1 per cent, a rise of 0.1 percentage point from October.