LABOR MARKET – AUSTRALIA

2.6m Australians unemployed or under-employed in December

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Original article by Roy Morgan
Market Research Update – Page: Online : 12-Jan-18

A Roy Morgan survey shows that 1.312 million Australians were unemployed (9.8% of the workforce) in December 2017, an increase of 126,000 (up 0.6%) on a year ago. In addition, 1.288 million Australians (9.6% of the workforce) are now under-employed, working part-time and looking for more work, a rise of 188,000 in a year. The figures also show that 12,098,000 Australians were employed in December, an increase of 392,000 over the past year. The Roy Morgan real unemployment figures are substantially higher than the current ABS estimate of 5.4% for November. Roy Morgan CEO Michele Levine says more than 2 million Australians have been either unemployed or under-employed for 27 straight months stretching back to late 2015, and until the Government undertakes significant industrial relations reform to cut red tape, target the rorts of the "cash economy" and provide the proper incentives for employers to take on new employees, Australian wage growth will continue to lag expectations and historical averages.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA

Health, retail leading surge in jobs growth

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Original article by Rachel Baxendale, Elizabeth Redman
The Australian – Page: 2 : 11-Jan-18

Data from the Australian Bureau of Statistics shows that there was 2.7 per cent growth in job vacancies in the three months to November 2017, and 16.1 per cent growth in the year to November. The annual growth in job vacancies was the strongest in seven years, while Australia recorded its strongest growth in new jobs for more than 12 years. Meanwhile, there was 17.2 per cent growth in private sector job vacancies over the 12 months, compared with 4.9 per cent growth in public sector job vacancies. Economists forecast that wages will begin to rise in 2018.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, PROPERTY COUNCIL OF AUSTRALIA LIMITED

Jobs surge supports RBA’s growth forecasts

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Original article by David Rogers
The Australian – Page: 27 : 15-Dec-17

The latest jobs data may strengthen the case for the Reserve Bank of Australia to begin lifting the cash rate in late 2018. Some 62,000 jobs were created in November, and 383,000 in the last year, while the unemployment rate was steady at 5.4 per cent. The Australian Bureau of Statistics data also supports the central bank’s view that economic growth will be above its trend rate in 2018. However, Tom Kennedy of JP Morgan says the RBA is likely to keep interest rates on hold while the unemployment rate remains at its current level, while George Tharenou of UBS does not expect a rate rise until 2019.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, JP MORGAN AUSTRALIA LIMITED, UBS HOLDINGS PTY LTD, AMP CAPITAL INVESTORS LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

2.394m Australians unemployed or under-employed in November

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-Dec-17

A Roy Morgan survey shows that 1.288 million Australians were unemployed (9.8% of the workforce) in November 2017, an increase of 89,000 (up 0.6%) on a year ago. In addition, 1.106 million Australians (8.4% of the workforce) were under-employed, working part-time and looking for more work, a rise of 6,000 in a year. In total, 2.394 million Australians were unemployed or under-employed in November. The figures also show that 11,886,000 Australians were employed in November – an increase of 39,000 over the past year. The Roy Morgan real unemployment figures are substantially higher than the current ABS estimate of 5.4% for October. Roy Morgan executive chairman Gary Morgan says it has now been more than two years, or 26 straight months, that more than two million Australians have been unemployed or under-employed. It is this "slack" in the Australian labour market that is responsible for the low wage growth mentioned by the RBA this week in their Statement explaining their decision to leave interest rates unchanged at 1.5%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA

Senate inquiry to look at job hit from robotics

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Original article by Phillip Coorey
The Australian Financial Review – Page: 7 : 26-Oct-17

Labor’s Murray Watt will chair a Senate inquiry that will examine the impact of technologies such as automation and robotics on the Australian labour market, society and the broader economy. Ed Husic, the shadow minister for the future of work and the digital economy, has estimated that these technologies will affect the jobs of some 3.5 million Australians. He has warned that the Coalition is not doing enough to prepare the nation for the impact of technology-driven change.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NEW SOUTH WALES. DEPT OF EDUCATION AND COMMUNITIES, AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. PRODUCTIVITY COMMISSION

Women have propelled Australian employment growth

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 23-Oct-17

Roy Morgan Research’s analysis of long-running trends in the Australian labour market by gender shows that strong increases in employment this century have been driven by large increases in both full-time and part-time employment for both women and men. However, although these increases have been shared between both genders, the increasing number of women joining the workforce has led to larger overall gains for women across overall employment, full-time employment, and also part-time employment. Roy Morgan Research CEO Michele Levine says the Australian workforce is undergoing generational change, with women entering the workforce in increasing numbers while men are driving the trend towards increasing part-time employment.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Jobs market ‘a thing of beauty’ set to boost pay

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Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 23-Oct-17

More than 300,000 jobs have been created in Australia during the last year, but Chris Richardson of Deloitte Access Economics forecasts that this will slow to less than 200,000 in the next 12 months. He also expects wages to begin increasing, while inflation will continue to rise at a slow pace over the next several years. Richardson adds that official interest rates are likely to remain low for some time, while a range of factors suggest that business investment will increase.

CORPORATES
DELOITTE ACCESS ECONOMICS PTY LTD, COMMONWEALTH SECURITIES LIMITED

Rate rise firming after stronger jobs growth

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Original article by David Rogers
The Australian – Page: 17 & 28 : 20-Oct-17

A rise in official interest rates may be on the agenda in 2018 after Australia’s unemployment rate fell from 5.6 per cent to 5.5 per cent in September 2017, with a higher-than-expected 19,800 jobs being created during the month. The economy has added 317,000 jobs in the last year, which is the highest annual rate of growth since August 2005. The Reserve Bank of Australia is widely tipped to leave interest rates on hold until at least 2018.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIAN BUREAU OF STATISTICS, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN PHARMACEUTICAL INDUSTRIES LIMITED – ASX API

250,000 find work in jobs surge

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Original article by David Uren
The Australian – Page: 2 : 15-Sep-17

Australia’s unemployment rate was steady at 5.6 per cent in August 2017, with the economy adding 54,000 jobs during the month. The latest labour force data also shows that 250,000 jobs have been created nationwide over the last six months, including 94,600 in Queensland and 82,800 in New South Wales. Meanwhile, the labour market participation rate has risen to a record 77.6 per cent, while the proportion of people with a job or actively looking for work has reached a five-year high of 65.3 per cent.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH SECURITIES LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, HSBC AUSTRALIA HOLDINGS PTY LTD, UBS HOLDINGS PTY LTD, JP MORGAN AUSTRALIA LIMITED

Australia’s real unemployment is up to 10.2% in August

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 8-Sep-17

A Roy Morgan survey shows that 1.324 million Australians were unemployed (10.2% of the workforce) in August 2017. This is similar to a year ago (down 8,000, or 0.2%). However, more Australians are now under-employed than this time last year; 1.241 million (9.5%) Australians are looking for work or looking for more work), up a significant 324,000 (2.4%) in a year. In total, 2.565 million (19.7%) Australians were unemployed or under-employed in August – the 23rd straight month more than 2 million Australians were looking for work or looking for more work. The figures also show that 11,685,000 Australians were employed in August – an increase of 162,000 over the past year (an average of 13,500 jobs added per month). The Roy Morgan real unemployment figures are substantially higher than the current ABS estimate for July (5.6%). Roy Morgan Research executive chairman Gary Morgan says the large increase in part-time jobs over the last year (up 535,000 or about 45,000 per month) obscures the loss of full-time jobs (down 373,000, just over 30,000 per month).

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS