We Are Rolling In Jobs, Jobs, Jobs... But...!

Well, we got the December 2024 data on unemployment today, and overall Australia’s unemployment rate remained low in December as the economy extended a streak of hiring gains, underlining the labor market’s unusual resilience to elevated interest rates. Employment jumped by 56,300 — driven entirely by part-time roles — versus a forecast 15,000 gain. The jobless rate rose to 4% rising by 0.1 percentage points in seasonally adjusted terms. Now, we should say there were some variation between the outgoing and incoming rotation groups this month, sufficient I think to explain the slight shifts we are seeing. But the headline […]