Australia’s December unemployment rate drops to 7-month low as jobs jump

[SYDNEY] Australian employment blew past forecasts in December to more than offset a surprise fall the month before, while the unemployment rate dropped unexpectedly to a seven-month low in a sign the labour market remains healthy.

Figures from the Australian Bureau of Statistics on Thursday showed net employment jumped 65,200 in December from November, when jobs fell by 28,700.

The December figure was way above market forecasts of a 30,000 gain, while full-time jobs rebounded by 54,800.

The jobless rate fell to 4.1 per cent, from 4.3 per cent, when analysts had looked for a rise to 4.4 per cent. The participation rate ticked up to 66.7 per cent, from 66.6 per cent, while hours worked rose 0.4 per cent. REUTERS