Australian December unemployment rate 3.5% vs. expected at 3.4% and prior also 3.4%

Australian jobs report for December 2022

• part-time employment -32.2K
• underemployment rate 6.1% from prior 5.8%
• underutilisation rate 9.6% from 9.3%
• monthly hours worked decreased by 0.5% (the number of people working reduced hours due to illness increased by 86,000 to 606,000)

The labour market has been on a rip, but a net jobs loss in this December report.

JObs and jobless graphs:

Some slowing is no surprise given the series of Reserve Bank of Australia rate hikes. One of the intended aims of these hikes, harsh as it sounds, is a slowing of demand. this involves job losses and the tick higher in the jobless rate shows this. The November jobless rate was revised higher to 3.5% also. '

Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term in Australia is still way, way above the RBA target band and I expect the Bank will hike its cash rate target again in February (the 7th is the meeting date) by 25bp.