The jobless rate is expected to remain in record-low territory heading toward the end of the year as the battle to hire workers rages on.
In October 32,200 jobs were added to the economy, driving the jobless rate back to 3.4 percent from 3.5 percent in September.
The unemployment rate is expected to remain in the mid-threes when the Australian Bureau of Statistics publishes labour force figures for November on Thursday.
But the jobs market is likely at capacity and unlikely to get any tighter, amid some signs it’s starting to come off its extraordinary peaks.
Job advertisement numbers fell in November for the sixth month in a row, suggesting the post-pandemic recruitment frenzy is starting to normalise as businesses recover and migration returns to normal.
Despite job ad numbers posted on SEEK’s employment marketplace starting to soften, they remain almost 40 percent above pre-pandemic levels.
With plenty of heat still left in the labour market, Commonwealth Bank economists expect the ABS data to show 15,000 jobs were added in November with the unemployment rate holding firm at 3.4 percent.
Kicking off a fresh week of economic news, the Australian Institute of Petroleum will publish a weekly fuel price report on Monday.
On Tuesday, the ANZ and Roy Morgan weekly consumer confidence survey will drop and most likely reveal another low score flowing from the rise in living costs on household budgets.
