Wages growth Labor’s priority

Original article by Patrick Commins
The Australian – Page: 7 : 6-Dec-19

Shadow treasurer Jim Chalmers will urge the federal government to address issues such as low wages growth, underemployment and falling productivity in its mid-year economic outlook. He will tell a Chifley Research Centre conference that the economy is not working for ordinary Australians, while warning of the dangers associated with the rise of populism. Chalmers will also emphasise the need for Labor to reengage Australians in the ‘politics of progress’ in the wake of its election defeat in May.

CORPORATES
AUSTRALIAN LABOR PARTY, CHIFLEY RESEARCH CENTRE

Real unemployment & under-employment above 2.3 million

Original article by Roy Morgan
Market Research Update – Page: Online : 14-Nov-19

The latest data for the Roy Morgan employment series shows that 12,714,000 Australians were employed in October 2019, up 520,000 over the past year. The rise in employment was driven by a significant increase in full-time employment of 695,000 over the last year (to 8,582,000); however, part-time employment has declined by 175,000 over the past year (to 4,132,000). The figures also show that 1,075,000 Australians (7.8% of the workforce) were unemployed in October, down 190,000 on a year ago, and the unemployment rate was down 1.6%. An additional 1,232,000 Australians (8.9% of the workforce) were under-employed, working part-time and looking for more work, a decrease of 10,000 in a year (down 0.3%). In total, 2,307,000 Australians (16.7% of the workforce) were either unemployed or under-employed in October, down 200,000 on a year ago. Roy Morgan’s real unemployment figure of 7.8% is higher than the current ABS estimate for September 2019 of 5.2%, although the gap between the two measures is the closest it has been since September 2015. Roy Morgan CEO Michele Levine says the best way to reduce the high level of labour under-utilisation, now stuck at over 2 million for over four years, is to provide a healthy and strong economy that encourages businesses to invest in growing their human capital by hiring new workers.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Rate cuts to go on despite jobless drop

Original article by Michael Roddan
The Australian Financial Review – Page: 2 : 18-Oct-19

Official data shows that Australia’s unemployment rate fell from 5.3 per cent to 5.2 per cent in September, after the participation rate eased to 66.1 per cent. The economy added 14,700 jobs during the month, with a 26,200-strong increase in full-time jobs being offset by the loss of 11,400 part-time positions. Westpac economist Simon Murray expects the small fall in the jobless rate to be temporary, adding that it will give the Reserve Bank more time to assess the state of the economy before taking any further action on interest rates. The official underemployment rate is currently 8.3 per cent.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, WESTPAC BANKING CORPORATION – ASX WBC, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS

Unemployment matters: At the Federal Election the L-NP picked up four marginal seats with total unemployment and under-employment over 25%

Original article by Roy Morgan
Market Research Update – Page: Online : 13-Aug-19

The latest data for the Roy Morgan employment series shows that in July 1.19 million Australians were unemployed (8.7% of the workforce) with an additional 1.3 million (9.6%) now underemployed. Employment was up 361,000 to 12,382,000 in July, while unemployment was down 147,000 on a year ago to 1,182,000 Australians, with the unemployment rate having fallen by 1.3% to 8.7%. However, the underemployment rate has risen 1% to 9.6% over the past year. Roy Morgan’s real unemployment figure of 8.7% for July is significantly higher than the current ABS estimate for June of 5.2%, although Roy Morgan’s underemployment estimate of 9.6% is comparable to the current ABS underemployment estimate of 8.2%. Roy Morgan CEO Michele Levine says unemployment and underemployment played a decisive role in the recent federal election, with the L-NP Government picking up four marginal seats from the ALP which have total unemployment and underemployment of over 20%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Real unemployment at 9.2% in June as tax cuts set to boost economy

Original article by Roy Morgan
Market Research Update – Page: Online : 5-Jul-19

The latest data for the Roy Morgan employment series shows that 12,363,000 Australians were employed in June 2019, up 118,000 over the past year. The rise in employment was driven by a significant increase in full-time employment of 479,000 over the last year (to 8,279,000); however, part-time employment has declined by 361,000 (to 4,084,000). The figures also show that 1,254,000 Australians (9.2% of the workforce) were unemployed in June, up 83,000 on a year ago, and the unemployment rate was up by 0.5%. An additional 1,275,000 Australians (9.4% of the workforce) were under-employed, working part-time and looking for more work, a decrease of 27,000 in a year (down 0.3%). In total, 2,529,000 Australians (18.6% of the workforce) were either unemployed or under-employed in June, an increase of 56,000 in a year (up 0.2%). Roy Morgan’s real unemployment figure of 9.2% for June is significantly higher than the current ABS estimate for May 2019 of 5.2%. Roy Morgan CEO Michele Levine says many commentators are expressing concern about the state of the Australian economy; however, with significant income tax cuts being legislated by the new Government and back-to-back interest rate cuts by the RBA in June and July, there is an increasing amount of stimulus in the Australian economy to support businesses and therefore increase employment opportunities.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Real unemployment at 10.3% as L-NP starts new term in Government

Original article by Roy Morgan
Market Research Update – Page: Online : 6-Jun-19

The latest data for the Roy Morgan employment series shows that 11,926,000 Australians were employed in May 2019, down 219,0000 over the past year. The fall in employment was driven by a significant decrease in part-time employment of 375,000 over the past year (to 3,911,000); full-time employment was up by 156,000 (to 8,015,000). The figures also show that 1,369,000 Australians (10.3% of the workforce) were unemployed in May, up 53,000 on a year ago, and the unemployment rate was up by 0.5%. An additional 1,223,000 Australians (9.2% of the workforce) were under-employed, working part-time and looking for more work, a decrease of 28,000 in a year (down 0.1%). In total, 2,592,000 Australians (19.5% of the workforce) were either unemployed or under-employed in May, an increase of 25,000 in a year (up 0.4%). Roy Morgan’s real unemployment figure of 10.3% for May is significantly higher than the current ABS estimate for April 2019 of 5.2%. Roy Morgan CEO Michele Levine says the first priority for the re-elected Coalition government is to pass the promised income tax cuts as soon as Parliament resumes. Other legislative priorities should include tackling the ‘cash economy’ which undermines law-abiding businesses, reducing the penalty rates for businesses opening on weekends and public holidays, and cutting the regulatory ‘red tape’ that discourages businesses from hiring new workers.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Jobs up, jobless up, pose RBA dilemma

Original article by Matthew Cranston, Sarah Turner
The Australian Financial Review – Page: 3 : 17-May-19

Official figures show that the Australian economy added a higher-than-expected 28,400 jobs in April, with a net gain of 34,700 part-time jobs offsetting the loss of 6,300 full-time positions. The unemployment rate increased to 5.2 per cent, while the labour force participation rate rose from 65.7 per cent to a record 65.8 per cent. Meanwhile, the underemployment rate rose to 8.3 per cent and the underutilisation rate rose to 13.7 per cent. Shane Oliver of AMP Capital expects the Reserve Bank to reduce official interest rates in June.

CORPORATES
AMP CAPITAL INVESTORS LIMITED, RESERVE BANK OF AUSTRALIA, AUSTRALIAN BUREAU OF STATISTICS, JP MORGAN AUSTRALIA LIMITED, LENDLEASE GROUP – ASX LLC

Over 600,000 jobs created since last election, but is it enough for the L-NP?

Original article by Roy Morgan
Market Research Update – Page: Online : 14-May-19

Roy Morgan real Australian unemployment is 8.9% in April, down 2% in a month, and following the same pattern seen during the last Federal Election when unemployment declined by 1.1% during the campaign before rebounding. There were 1.2 million Australians unemployed in April and a further 1.18 million Australians under-employed – a total of 2.38 million Australians looking for work or looking for more work (17.7% of the workforce). Full-time employment was 8.03 million, up nearly 350,000 since the last election, while part-time employment was 4.22 million (up 260,000). Although over 600,000 jobs have been created since the last Federal Election in July 2016, total unemployment and under-employment remains stuck well above 2 million people.

CORPORATES
ROY MORGAN LIMITED

Real unemployment jumps to 10.9% as Australians prepare to vote in election

Original article by Roy Morgan
Market Research Update – Page: Online : 17-Apr-19

The latest data for the Roy Morgan employment series shows that 12,158,000 Australians were employed in March 2019, down 216,000 over the past year. The fall in employment was driven by a significant decrease in part-time employment of 203,000 over the past year (to 4,228,000); full-time employment was virtually unchanged, down by 13,000 (to 7,930,000). The figures also show that 1,491,000 Australians (10.9% of the workforce) were unemployed in March, up 281,000 on a year ago, and the unemployment rate was up by 2%. In addition, 1,321,000 Australians (9.7% of the workforce) were under-employed, working part-time and looking for more work, a decrease of 41,000 in a year (down 0.3%). In total, a record high 2,812,000 Australians (20.6% of the workforce) were either unemployed or under-employed in March, an increase of 240,000 in a year (up 1.7%). Roy Morgan’s real unemployment figure of 10.9% for March is significantly higher than the current ABS estimate for February of 4.9%. Roy Morgan CEO Michele Levine says the disappointing employment figures suggest the real problem facing the Morrison Government has been an inability to solve Australia’s continuing problem of high unemployment and under-employment. Roy Morgan has consistently shown over 2 million Australians looking for work (unemployed) or looking for more work (under-employed) since the L-NP Government was first elected in September 2013 and that problem remains a large one to this day.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS, MORGAN POLL, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA

Employment growth stalls as overall employment down on a year ago

Original article by Roy Morgan
Market Research Update – Page: Online : 14-Mar-19

The latest data for the Roy Morgan employment series shows that 12,174,000 Australians were employed in February 2019, down 54,000 over the past year. The fall in employment was driven by a decrease in part-time employment of 60,000 (to 4,015,000); full-time employment was virtually unchanged, up by 6,000 to 8,159,000. The figures also show that 1,292,000 Australians (9.6% of the workforce) were unemployed in February, down 18,000 on a year ago, and the unemployment rate decreased by 0.1%. In addition, 1,156,000 Australians (8.6% of the workforce) were under-employed, working part-time and looking for more work, a decrease of 54,000 in a year (down 0.3%). In total, 2,448,000 Australians (18.2% of the workforce) were either unemployed or under-employed in February, a decrease of 72,000 in a year (down 0.4%). Roy Morgan’s real unemployment figure of 9.6% for February is significantly higher than the current ABS estimate for January of 5.0% although Roy Morgan’s under-employment estimate of 8.6% is comparable to the current ABS underemployment estimate of 8.1%. Meanwhile, the latest Roy Morgan Poll conducted over the last two weekends of March 2/3 & 9/10 with a representative cross-section of 1,603 electors shows the ALP 55.5% cf. L-NP 44.5% on a two-party preferred basis. The ALP’s lead amongst women is even stronger with women supporting the ALP 56.5% cf. L-NP 43.5% while men also support the ALP but to a lesser degree: ALP 54% cf. L-NP 46%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS, MORGAN POLL, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA