Original article by Roy Morgan
Market Research Update – Page: Online : 13-Jun-24

In May 2024, Australian ‘real’ unemployment fell 170,000 to 1,365,000 (down 1% to 8.7% of the workforce), as overall employment increased to a new record high above 14.3 million. In addition to the decrease in unemployment, there was also a welcome decrease in under-employment, which was down 256,000 to 1,338,000. These combined decreases mean that 2.7 million Australians (17.2% of the workforce, up 1%) were unemployed or under-employed in May – the lowest level of total labour under-utilisation since April 2022 (2.63 million). Meanwhile, employment increased by 78,000 to a new record high of 14,310,000 in May. A rise in full-time employment drove the increase (up 112,000 to a new record high of 9,441,000), while part-time employment was down 34,000 to 4,869,000.

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