Despite 56,000 Aussies Exiting Workforce, Australia’s Jobless Rate Holds Steady: An Economic Analysis

The number of individuals engaged in full-time work diminished by 57,000 in November, with a significant drop of 40,000 men and 16,000 women leaving the workforce.

Conversely, part-time jobs experienced an uptick, increasing by 35,000, likely due to the influx of seasonal employment for the holiday season.

Sean Crick, the head of labour statistics at the ABS, noted that while there have been considerable shifts in employment dynamics, the overall employment rate has shown remarkable steadiness.

“The unemployment rate has consistently hovered around 4.3% for five out of the last six months,” he remarked.

“In November, both the number of employed and unemployed individuals saw a decrease, with the figures dropping by 21,000 and 2,000, respectively.”

Today’s unemployment result, which was largely forecast by financial markets and economists alike, does little to clear the clouds from the crystal balls of RBA watchers.

Unemployment is steady and historically low, with many predicting there may be as little as one hike in 2026.