The labor market data in Australia is better than expected, and unemployment is clearly decreasing.

On Thursday morning, the Australian Bureau of Statistics released the labor market data for the country for the month of November, which came in higher compared to market expectations, as the economy created more jobs than anticipated and the unemployment rate dropped to its lowest level since March.

According to the data, Australia's economy added approximately 35.6 thousand jobs, which was greater than market expectations that suggested the economy would add only about 26.0 thousand jobs. The previous reading for October had shown an addition of about 12.1 thousand jobs after being revised down from 64.1 thousand.

On the other hand, the unemployment rate data in Australia was better than expected, as the unemployment rate stabilized at 3.9% during November. November's reading was better compared to forecasts that predicted the unemployment rate would stabilize at 4.2%, after the index recorded an increase to 4.1% in October.

The employment change indicator in Australia is one of the indicators measuring consumer spending within the country, as it reflects the overall economic activity in Australia. A reading that exceeds expectations is likely to positively impact the Australian dollar, while a decline from market expectations suggests a potential weakening of the Australian dollar. In this case, the impact is considered mixed and neutral on the movement of the Australian dollar.