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ABS November Labour Force is out and looks a decent report at first blush:
- Employment increased 21,000 to 11,659,900. Full-time employment increased 15,500 to 8,107,900 and part-time employment increased 5,500 to 3,552,000.
- Unemployment increased 3,400 (0.5%) to 712,500. The number of unemployed persons looking for full-time work decreased 3,500 to 517,700 and the number of unemployed persons looking for part-time work increased 6,800 to 194,800.
- The unemployment rate increased by less than 0.1 pts to 5.8%, based on unrounded estimates.
- The participation rate remained steady at 64.8%.
- Aggregate monthly hours worked decreased 11.7 million hours (0.7%) to 1,634.4 million hours.
Dollar jumped 20 pips then erased it. Detailed post to come from UE…
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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