Based on the latest report from DOS yesterday, the economy lost 24.1k jobs in November (‘000):
However, as I pointed out last month, job losses are fairly typical in October-November, so this is just par for the course. This is confirmed on a seasonally adjusted basis, which shows an increase of 58.9k, i.e. the reduction in the numbers employed was lower than usual.
However, the total labour force didn’t drop as much as last month’s numbers, so the unemployment rate has stayed elevated:
I’m still thinking this is a temporary, seasonal phenomenon, so I’m looking to see the unemployment rate fall back again next month. But if it doesn’t, that might put a damper on all the other positive data that has come out of 4Q2013.
November 2013 Employment report from the Department of Statistics (warning: pdf link)