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The Australian Bureau of Statistics’ (ABS) November labour market report is solid with the unemployment rate steady at a 48-year low of 3.4% off 32,600 new jobs, and the labour force participation rate hitting a record high 66.8%.
The underemployment rate also fell 0.1% to 5.8%.
The below chart plots the trend rise in employment:
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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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