Original article by Roy Morgan
Market Research Update – Page: Online : 14-Jun-24

The ABS employment estimates for May released this week showed Australian unemployment dropping 9,200 to 598,900 (4.0%, down 0.1%). The ABS estimate once again followed the earlier released Roy Morgan ‘Real Unemployment’ estimates which showed a decrease of 170,000 to 1,365,000 (8.7%, down 1%) – over twice as high as the latest ABS estimate. The ABS showed under-employment, increasing 17,000 to 1,008,000 (6.7%, up 0.1%) although this is still significantly lower than the latest Roy Morgan under-employment estimate of 1,338,000 (8.5%). The combined Roy Morgan ‘Real Unemployment’ and under-employment estimates show 2.7 million Australians (17.2% of the workforce) unemployed or under-employed in May – the lowest rate of total labour under-utilisation for nearly two years since July 2022 (17.1%, 2.52 million) during the last few months of pandemic restrictions.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS