Australia's Unemployment Rate Hits 12-year High - Yahoo News

December 11, 2014

Unemployment edged up to 6.3 percent as 42,700 jobs were added to the economy, the Australian Bureau of Statistics (ABS) said. The figure is click here. up from 5.8 percent last November. Full-time positions increased by 1,800 as part-time employment soared 40,800, with the data slightly stronger than economists' expectations of 15,000 jobs created. "Despite the unemployment rate printing a touch higher in rounded terms, November's report was overall slightly better than the market expected, and suggested labour market conditions improved modestly in November," ANZ economists Savita Singh and Riki Polygenis said. "From here -- and now that the ABS appears more comfortable with the veracity of the survey -- we expect the unemployment rate to level out." The latest figures came two days after the ABS said it would accept all recommendations from an independent review into how the labour force survey is collated, following questions about its accuracy. The review said the timing of supplementary surveys had contributed to the volatility in the monthly data. The Australian dollar jumped a quarter of a cent to 83.7 US cents after the data release before easing slightly. The participation rate -- news which measures the proportion of adults in work or looking for work -- rose a seasonally adjusted 64.7 percent from 64.6 percent.
More: http://news.yahoo.com/australias-unemployment-rate-12-high-014107367.html

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