UNDEREMPLOYMENT – AUSTRALIA

Australian unemployment is up 0.3% to 10.7% in May; Under-employment down 0.3% to 7.4%

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Jun-16

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate rose by 0.3 per cent to 10.7 per cent in May 2016. The number of people in the workforce has fallen by 27,000 to 12,783,000 (although up 293,000 since May 2015), and 11,414,000 Australians are employed (up 213,000 in the last 12 months). Meanwhile, the number of people who are under-employed has fallen by 74,000 in the last 12 months to 947,000 (7.4 per cent of the workforce). The official unemployment rate was 5.7 per cent in April 2016. Roy Morgan Research executive chairman Gary Morgan says that with the federal election a month away, both sides of politics continue to base their economic modelling on the wrong ABS unemployment data and because of this they will not advocate the correct policy reforms that need to be undertaken to "free-up" the Australian labour market. Stimulating real growth in the economy is the most effective way to create jobs for unemployed and under-employed Australians.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

Australian April unemployment is 10.4% for third consecutive year. Under-employment steady at 7.7%

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-May-16

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate fell by 0.6 per cent to 10.4 per cent in April 2016. The number of people in the workforce has fallen by 134,000 to 12,810,000 (although up 183,000 since April 2015), and 11,476,00 Australians are employed (up 158,000 in the last 12 months). Meanwhile, the number of people who are under-employed has fallen by 149,000 in the last 12 months to 988,000 (7.7 per cent of the workforce). The official unemployment rate was 5.7 per cent in March 2016. Roy Morgan Research executive chairman Gary Morgan says the Reserve Bank’s decision to cut interest rates to a record low 1.75 per cent shows the weakness the overall Australian economy is facing. The ongoing job losses throughout the economy also provide clear evidence that the ABS unemployment figures released monthly lack credibility. ABS estimated unemployment of only 5.7 per cent in March, indicating a booming Australian economy, which is most certainly not reflected in other measures and clearly not believed by the RBA, which is once again cutting interest rates.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, ARRIUM LIMITED – ASX ARI, QUEENSLAND NICKEL PTY LTD, DICK SMITH HOLDINGS LIMITED – ASX DSH, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, ELECTROLUX PTY LTD

The alternative to a Bank Commission – tackle Australia’s massive ‘cash economy’

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Original article by Gary Morgan
Market Research Update – Page: Online : 12-Apr-16

The cost and distraction of a Bank Royal Commission would be expensive and unnecessary. Banks have high customer satisfaction ratings. Today Australia needs the banks and other financial institutions to be more involved in helping businesses and their customers in difficult financial times. Much more important to the electorate is Australia’s massive real unemployment and under-employment – in March 11 per cent unemployed and 7.8 per cent under-employed . The situation will not improve with recent industry lay-offs. Many of Australia’s business failures have been caused by falling commodity prices and unrealistic work practices upheld by outdated industrial relations laws. With the lack of sufficient work many Australians see no alternative but to be part of the massive cash economy. Both sides of politics need to present to the electorate policies which tackle this problem – only then will State and Federal Governments have any hope of cutting the massive government deficit and collecting sufficient additional revenue needed for education, hospitals, roads, transport, etc.

CORPORATES
ROY MORGAN RESEARCH LIMITED, ARRIUM LIMITED – ASX ARI, WOOLWORTHS LIMITED – ASX WOW, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, DICK SMITH HOLDINGS LIMITED – ASX DSH, QUEENSLAND NICKEL PTY LTD

Australian unemployment jumps to 11%

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 8-Apr-16

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate rose by one per cent to 11 per cent in March 2016. The number of people in the workforce totalled 12,944,000 in March 2016 (up 274,000 since March 2015, but down 230,000, month-on-month), and 11,522,000 Australians are employed (up 220,000 in the last 12 months). Meanwhile, 1,011,000 people (7.8 per cent of the workforce) are under-employed. The official unemployment rate was 5.8 per cent in February 2016.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Record number of Australians employed in February as unemployment falls to 10%

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Original article by Gary Morgan
Market Research Update – Page: Online : 11-Mar-16

The long-running Roy Morgan unemployment estimate shows real Australian unemployment (10.0 per cent) is consistently higher than reported by the ABS (6.0 per cent) – and the higher Roy Morgan unemployment estimate "makes sense" when one considers record low wages growth. The ABS figures released monthly lack credibility. ABS estimated unemployment of 6.0 per cent in January – recognised as a figure close to "full employment". The ABS also reports Australian wage growth at a record low of only 2.2 per cent in 2015. These two figures do not make sense. The economic fact is that when an economy approaches full employment, wages growth throughout the economy accelerates and this causes inflation. This is not happening in Australia, and nor is it happening in the US. The US Bureau of Labor Statistics claims US unemployment of only 4.9 per cent on the most reported measure. However, a broader definition of US unemployment also released by the BLS (called U6) shows real US unemployment of 9.7 per cent. This higher US unemployment estimate is a much closer estimate of the real level of unemployment in the US and very close to Australia’s level of real unemployment. Both businesses and governments in Australia and the US do their economic modelling based on the wrong unemployment data.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, UNITED STATES. BUREAU OF LABOR STATISTICS

Record number of Australians employed in February as unemployment falls to 10%

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 11-Mar-16

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate fell from 10.3 per cent to 10 per cent in February 2016. The number of people in the workforce has risen to a record 13,174,000 (up 648,000 since February 2015), and a record 11,855,000 Australians are employed (up 710,000 in the last 12 months). Meanwhile, 1,161,000 people (8.8 per cent of the workforce) are under-employed. The official unemployment rate was four per cent in January 2016.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Unemployment rises to 10.3% in January – Under-employment down from record high in December

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 5-Feb-16

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate was 10.3 per cent in January 2016. The number of people in the workforce has risen to a record 13,098,000 (up 471,000 since January 2015), and a record 11,752,000 Australians are employed (up 358,000 in the last 12 months). Meanwhile, the number of people who are under-employed has risen by 196,000 in the last 12 months to 1,229,000 (9.4 per cent of the workforce). The official unemployment rate was 5.8 per cent in December 2015. Roy Morgan Research executive chairman Gary Morgan says Australia’s outdated industrial relations laws and work practices can only be properly reformed if the "cash economy" is tackled at the same time – otherwise any efforts at IR reform will be of limited benefit, as Government revenue increases will be negligible.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Unemployment rises to 9.7% in December – Under-employment at record high

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 4-Jan-16

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate was 9.7 per cent in December 2015, compared with 9.2 per cent in November. The number of people in the workforce now totals 13,007,000 (up 106,000 since December 2014), and 11,751,000 Australians are employed (up 252,000 since December 2014). Meanwhile, the number of people who are under-employed has risen by 188,000 in the last 12 months, to a record 1,434,000 (11 per cent of the workforce). The official unemployment rate was 5.8 per cent in November 2015. Roy Morgan Research executive chairman Gary Morgan says the key point for Prime Minister Malcolm Turnbull and the Coalition Government as they contemplate when to hold the Federal Election is how to properly manage the Australian economy to ensure growth and provide jobs for the growing workforce. Changing industrial relations laws and work practices can only be effective if the "cash economy" is tackled at the same time – otherwise any efforts at IR reform will be of limited benefit as Government revenue increases will be negligible.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Employment at record high – 11.8 million Australians employed

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 7-Dec-15

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate was 9.2 per cent in November 2015. The number of people in the workforce now totals 12,954,000 (up 297,000 since November 2014), and a record 11,768,000 Australians are employed (up 372,000 since November 2014). Meanwhile, the number of people who are under-employed has risen by 119,000 in the last 12 months to a record 1,350,000 (10.4 per cent of the workforce). The official unemployment rate was 5.9 per cent in October 2015. Roy Morgan Research executive chairman Gary Morgan says that although Prime Minister Malcolm Turnbull has gained popular support amongst Australian electors, the L-NP has not gained majority support among young electors, and the employment situation for students over the next few months is crucial for the Federal Government.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

In October: Real unemployment in Australia is 8.8% (up 0.5% in a month); but down 0.3% from a year ago (9.1%)

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 4-Nov-15

A Roy Morgan Research survey on Australia’s labour market has found that the real unemployment rate was 8.8 per cent in October 2015, compared with 9.1 per cent 12 months earlier. The number of people in the workforce now totals 12,663,000 (up 654,000 since October 2014), while the number of people who are under-employed has fallen by 29,000 in the last 12 months to 1,088,000 (8.6 per cent of the workforce). The official unemployment rate was 6.2 per cent in September 2015. Roy Morgan Research executive chairman Gary Morgan says the Federal Government’s main priority must be to eliminate the sizeable "cash economy" in Australia, which will free-up the labour market and have a much bigger impact on increasing productivity and employment growth than a simple increase in the GST.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, 7-ELEVEN STORES PTY LTD, UNITED PETROLEUM PTY LTD, BAKER’S DELIGHT HOLDINGS LIMITED, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, NANDO’S AUSTRALIA PTY LTD, SUBWAY SANDWICHES PTY LTD, AUSTRALIA. FAIR WORK COMMISSION