# Australian Labour Market Shows Signs of Improvement in November 2024
Last Thursday, the Australian Bureau of Statistics released the latest Labour Force data for November 2024. The report revealed some positive developments in the Australian labour market, with employment increasing by 35,600, reversing the previous month’s weakness. Unemployment declined by 27,000, resulting in a decrease in the unemployment rate to 3.9%.
Here are some key highlights from the November 2024 Labour Force report:
– Full-time employment rose by 52.6 thousand (0.5 per cent), while part-time employment fell by 17 thousand (0.4 per cent).
– The participation rate decreased by 0.1 point to 67 per cent.
– The underemployment rate also dropped by 0.1 point to 6.1 per cent.
– The total labour underutilisation rate (unemployment plus underemployment) fell to 10 per cent overall.
The improved employment growth in November was attributed to a higher number of people moving into employment who were previously unemployed. Despite the positive turnaround, there are still over 1.6 million Australians who are either unemployed or underemployed, highlighting the ongoing challenges in the labour market.
## FAQ
### 1. How much did employment increase in November 2024?
Employment rose by 35,600 in November 2024, with full-time employment experiencing significant growth.
### 2. What was the unemployment rate in November 2024?
The unemployment rate decreased by 0.2 points to 3.9% in November 2024.
### 3. Did underemployment also decrease in November 2024?
Yes, underemployment fell by 0.1 point to 6.1% in November 2024.
### 4. What was the overall labour underutilisation rate in November 2024?
The total labour underutilisation rate, which includes both unemployment and underemployment, fell to 10% in November 2024.
## Conclusion
While the Australian labour market showed signs of improvement in November 2024, with increased employment and decreased unemployment, there are still challenges to address. The underutilisation of the workforce remains a concern, with over 1.6 million Australians facing unemployment or underemployment. It is essential to continue monitoring and supporting the labour market to ensure sustainable growth and opportunities for all individuals.