Employment down in December; illness rate up 50%

19 January 2023

 

Summary: Employment down 14,600 in December, contrasts with expected gain; labour market still “incredibly tight”; reduced hours due to illness up 50% on comparable December 2021 figure; participation rate declines to 66.6%; jobless rate steady at 3.5%; fewer part-time, more full-time jobs; aggregate work hours down 0.5%; underemployment rate increase to 6.2%. Australia’s period of falling unemployment came to an end in early 2019 when the jobless rate hit a...

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