Australian employment declined by 15.6k jobs in November after economists called for only a 15.0k loss of jobs. The move raises the unemployment rate by 0.1 percentage point, to 4.4% as expected. The previous month’s increase of 36.5k jobs was misleading in that employers substituted full-time positions with only part-time ones. This month, however, saw employers shed those part-time jobs completely, by 24% after October’s increase of 43.8%. Participation in the labor force among Australians also ticked down a bit.
AUDUSD traded through 0.6577 at 20:04EST.
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