Original article by Roy Morgan
Market Research Update – Page: Online : 11-Dec-24

In November 2024, Australian ‘real’ unemployment dropped 88,000 to 1,362,000 (down 0.6% to 8.6% of the workforce), with many of these people finding employment. In addition to the unemployed, a further 1.54 million Australians (9.8% of the workforce) were under-employed, i.e. working part-time but looking for more work, up 68,000 from October. In total, 2.91 million Australians (18.4% of the workforce) were either unemployed or under-employed in November. Meanwhile, Australian employment increased 183,000 to 14,430,000; this increase was driven by a rise in part-time employment, up 420,000 to 5,163,000 as the pre-Christmas and Black Friday sales period kicked off, but full-time employment decreased 237,000 to 9,267,000. The total workforce in November was 15,792,000 (up 95,000 from October, and up 874,000 from two years ago). Roy Morgan’s unemployment figure of 8.6% for October is more than double the ABS estimate of 4.1% for October but is approaching the combined ABS unemployment and under-employment figure of 10.3%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS