LABOR MARKET – AUSTRALIA

Ratio of casual workers steady for 20 years

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Original article by Ewin Hannan
The Australian – Page: 8 : 19-Jun-18

The Australian Industry Group’s analysis of official labour market data suggests that contrary to unions’ claims, the proportion of casual workers has remained steady at about 25 per cent of all employees since 1998. This is despite the fact that the number of casual employees rose from 1.7 million in August 1998 to 2.6 million in February 2018. Ai Group’s chief economist Julie Toth notes that there has been 53 per cent growth in the number of casual employees over this period, and 56 per cent growth in permanent employee numbers.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN BUREAU OF STATISTICS, ACTU, THE AUSTRALIA INSTITUTE LIMITED

Jobless rate supertanker heads lower

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Original article by Jacob Greber
The Australian Financial Review – Page: 4 : 15-Jun-18

Data from the Australian Bureau of Statistics shows that 12,000 jobs were created in May, although economists had forecast that the economy added 19,000 jobs. An additional 32,600 part-time jobs partially offset the loss of 20,600 full-time positions. The official unemployment rate fell by 0.2 per cent to 5.4 per cent, which is its lowest level since November 2012. Meanwhile, the underemployment rate rose by 0.1 per cent to 8.5 per cent and the proportion of people who are employed but looking for more work was steady at 13.9 per cent.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, IFM INVESTORS PTY LTD, CAPITAL ECONOMICS LIMITED, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS, RESERVE BANK OF AUSTRALIA

Australian employment up by over 350,000 in a year

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Jun-18

A Roy Morgan survey shows that 12,415,000 Australians were employed in May 2018, an increase of 355,000 over the last year. The increase was driven by full-time employment, which rose 307,000 to 7,859,000; part-time employment was up 48,000 to 4,286,000. The figures also show that 1,316,000 million Australians were unemployed (9.8% of the workforce) in May, an increase of 32,000 (unchanged in percentage terms) on a year ago. In addition, 1,251,000 Australians (9.3% of the workforce) are now under-employed, working part-time and looking for more work, a fall of 87,000 in a year (down 0.9%). Roy Morgan’s real unemployment figure of 9.8% for May is substantially higher than the current ABS estimate for April of 5.6%. Roy Morgan CEO Michele Levine says the Fair Work Commission’s decision to raise the minimum wage by 3.5% to almost $720 per week was based on the misleading ABS unemployment figure that under-states the "true" level of unemployment and under-employment in Australia. In future the FWC needs to consider the more accurate Roy Morgan employment figures that consistently records that there are more than 2.5 million Australians looking for work or looking for more work.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. FAIR WORK COMMISSION

Most lack full-time jobs with benefits

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Original article by Ewin Hannan
The Australian – Page: 3 : 29-May-18

Analysis of official data by the Centre for Future Work shows that just 49.97 per cent of full-time workers in Australia had paid leave entitlements in 2017, compared with 51.35 per cent in 2012. The proportion of part-time jobs across the economy has in turn risen from 29.7 per cent to a record 31.7 per cent. Meanwhile, the number of workers who are underemployed has risen from 7.6 per cent to 9.1 per cent over the last five years. The data also shows that 12.4 per cent of employees in the private sector are now covered by enterprise agreements, down from 18.9 per cent in 2012. However, the proportion of workers covered by industry awards has risen from 16.6 per cent to 23.6 per cent.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, THE AUSTRALIA INSTITUTE LIMITED. CENTRE FOR FUTURE WORK, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Coalition achieves million jobs vow

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Original article by Adam Creighton
The Australian – Page: 6 : 18-May-18

Official data shows that Australia’s unemployment rate rose from 5.5 per cent to a nine-month high of 5.6 per cent in April. Some 23,000 jobs were created in April, and the economy has added 1.014 million jobs since the Coalition won office in September 2013. Former prime minister Tony Abbott had made an election commitment to generate one million new jobs during the first five years of a Coalition government. Tom Kennedy of JP Morgan notes that the construction and healthcare sectors accounted for more than 50 per cent of the jobs created during 2017.

CORPORATES
JP MORGAN AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Part-time employment hits record high and 1.35m now under-employed

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Original article by Roy Morgan
Market Research Update – Page: Online : 7-May-18

A Roy Morgan survey shows that 11,962,000 Australians were employed in April 2018 – an increase of 46,000 over the last year. The increase was driven by part-time employment, which rose 154,000 to a record 4,454,000; full-time employment was down 108,000 to 7,508,000. The figures also show that 1,196,000 million Australians were unemployed (9.1% of the workforce) in April, a decrease of 88,000 (down 0.7%) on a year ago. In addition, 1,349,000 Australians (10.2% of the workforce) are now under-employed, working part-time and looking for more work, a rise of 259,000 in a year (up 1.9%). Roy Morgan’s real unemployment figure of 9.1% for April is substantially higher than the current ABS estimate for March of 5.5%. Roy Morgan CEO Michele Levine says the continuing strength in part-time employment is causing under-employment levels to spike from already high levels, and it is imperative that the May 2018 Federal Budget seriously considers the continuing high levels of unemployment and under-employment.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Jobs market hits wall after record surge

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Original article by David Uren
The Australian – Page: 4 : 20-Apr-18

Official data shows that the number of full-time jobs in Australia fell by 7,500 in the March quarter, although 43,000 part-time jobs were created. The economy added 4,900 jobs in March, compared with market expectations of 20,000. Despite the economy’s failure to sustain the momentum that saw more than 430,000 jobs created in the year to January, Employment Minister Michaelia Cash argues that growth in both full and part-time employment is higher than a year ago. She adds that 996,800 jobs have been created since the Coalition won the 2013 federal election.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, JP MORGAN AUSTRALIA LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Employment at record high but over 2.5m looking for more work

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Original article by Roy Morgan
Market Research Update – Page: Online : 9-Apr-18

A Roy Morgan survey shows that 1.21 million Australians were unemployed (8.9% of the workforce) in March 2018, a decrease of 26,000 (down 0.4%) on a year ago. In addition, 1.36 million Australians (10.0% of the workforce) are now under-employed, working part-time and looking for more work, a rise of 258,000 in a year (up 1.6%). The figures also show that a record 12,374,000 Australians were employed in March – an increase of 399,000 over the last year. Roy Morgan’s real unemployment figure of 8.9% for March is substantially higher than the current ABS estimate for February 2018 of 5.6%. Roy Morgan CEO Michele Levine says that given the large number of Australians directly, or even indirectly impacted, by unemployment and under-employment it is no surprise that issues relating to unemployment, job security and the search for jobs is one of the key issues Australians mention unprompted when asked about the biggest problem facing Australia in early in 2018.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

ABS data shows full-time employment down 50,000 in a month as part-time jobs surge – a real problem!

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Original article by Roy Morgan
Market Research Update – Page: Online : 16-Feb-18

Full-time employment fell nearly 50,000 in January according to the ABS employment figures released yesterday and confirm the longer-term trend revealed by the Roy Morgan January employment figures released a week ago. Increases in part-time employment which could mean working anywhere between 1-30 hours per week are driving employment growth at the expense of full-time jobs. As Roy Morgan first revealed last week: "The increase in employment over the past year was driven entirely by an increase in part-time employment which rose 156,000 to 4,191,000 while full-time employment fell 40,000 to 8,045,000".

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Turns out Abbott was right about new jobs

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Original article by Jacob Greber
The Australian Financial Review – Page: 9 : 15-Feb-18

The general consensus of economists is that the latest labour force data will show that about 15,000 jobs were created in January 2018. This would lift the number of jobs created since the September 2013 federal election to more than 971,000. Prior to the election, then Opposition leader Tony Abbott had committed to increasing the labour force by one million during the Coalition’s first five years in office. The Government is on track to deliver on this pre-election promise well within the five-year time-frame, after the economy added 400,000 jobs in 2017.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, BLOOMBERG LP