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Australia’s unemployment rate dropped to 4.1 percent in December as the economy added 65,200 jobs, marking one of the stronger monthly employment gains in recent months, the Australian Bureau of Statistics reported Wednesday.
The seasonally adjusted unemployment rate fell from 4.3 percent in November, driven largely by increased employment among workers aged 15 to 24, according to Sean Crick, the bureau’s head of labour statistics. Full-time employment accounted for 54,800 of the new positions, while part-time work added 10,400 jobs.
Monthly hours worked reached a record high of more than 2 billion hours for the first time, rising 0.4 percent in line with overall employment growth. The participation rate, measuring the share of the population working or actively seeking work, increased to 66.7 percent.
The underemployment rate, reflecting workers unable to secure desired hours, fell 0.5 percentage points to 5.7 percent. Among teenagers aged 15 to 19, underemployment dropped from 19.5 percent to 17.4 percent.
Male employment rose by 49,000 workers, while female employment increased by 17,000. The trend unemployment rate, which smooths monthly volatility, declined marginally to 4.2 percent.
The Reserve Bank of Australia monitors employment data closely as it weighs monetary policy decisions amid persistent inflation concerns. More detailed regional labour market data will be released Jan. 29.
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