Australia’s seasonally adjusted unemployment rate was unchanged at 3.9% in November 2024 when compared to November 2023, according to the latest research by the Australian Bureau of Statistics.

When compared to the previous month, the unemployment rate was down 0.2% from October 2024.

In total, there were 595,300 unemployed persons in November 2024, up 2.5% when compared to the same period a year ago and down 4.3% compared to the previous month.

Meanwhile, the number of employed persons stood at 14,535,500, up 2.4% over the prior year and 0.2% compared to the previous month.

David Taylor, ABS head of labour statistics said in a press release, “With employment rising by 36,000 people and the number of unemployed decreasing by 27,000 people, the unemployment rate fell to 3.9%.

“In November we saw a higher than usual number of people moving into employment who were unemployed and waiting to start work in October. This contributed to the rise in employment and fall in unemployment,” Taylor continued.

The labour force participation rate stood at 67.0% in November, up from 67.1% in October and no change compared to November 2023.

“The recent growth in population has boosted the labour supply as employment has kept up with population growth,” Taylor said.

Monthly hours worked in all jobs totalled 1.96 billion in November 2024, no change over the month and up 2.1% over the year.

In trend terms, the unemployment rate in Australia also stood at 4.0%, no change on the previous month and up 0.1% compared to the prior year.