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As summarised earlier by Houses & Holes, the Australian Bureau of Statistics (ABS) today released labour force data for the month of November, which registered a marginal increase in the headline unemployment rate to 6.26% (from 6.25% in October), with unemployment climbing to the highest level since September 2002.
The result was in line with analyst’s expectations. In trend terms, the unemployment rate rose to 6.26% in November (from 6.23%) – the highest unemployment since August 2002 (see next chart).
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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