Thursday 16 December 2021

Employment soars 366,000 in November

Jobs bounceback

Total employment jumped +366,000 in November, all the way back to around where it was in May and June. 

A huge number of part-time jobs were recovered as the most populated states reopened for business. 


This was largely a story of employment recovering in November in New South Wales (+180,000) and Victoria (+141,000) as the restrictions were eased. 


The unemployment rate dived back down to 4.61 per cent - a sharp improvement, though a little higher than the August lows. 


Overall, very encouraging numbers, though the Twitterati are already taking about reintroducing COVID restrictions, so we're likely a long way yet from back to normal. 

Also, participation may still have some way to rise from here. 

Still, a positive result!

More detail from the data king James Foster here.