Real unemployment & under-employment above 2.3 million

Original article by Roy Morgan
Market Research Update – Page: Online : 14-Nov-19

The latest data for the Roy Morgan employment series shows that 12,714,000 Australians were employed in October 2019, up 520,000 over the past year. The rise in employment was driven by a significant increase in full-time employment of 695,000 over the last year (to 8,582,000); however, part-time employment has declined by 175,000 over the past year (to 4,132,000). The figures also show that 1,075,000 Australians (7.8% of the workforce) were unemployed in October, down 190,000 on a year ago, and the unemployment rate was down 1.6%. An additional 1,232,000 Australians (8.9% of the workforce) were under-employed, working part-time and looking for more work, a decrease of 10,000 in a year (down 0.3%). In total, 2,307,000 Australians (16.7% of the workforce) were either unemployed or under-employed in October, down 200,000 on a year ago. Roy Morgan’s real unemployment figure of 7.8% is higher than the current ABS estimate for September 2019 of 5.2%, although the gap between the two measures is the closest it has been since September 2015. Roy Morgan CEO Michele Levine says the best way to reduce the high level of labour under-utilisation, now stuck at over 2 million for over four years, is to provide a healthy and strong economy that encourages businesses to invest in growing their human capital by hiring new workers.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

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