Original article by Roy Morgan
Market Research Update – Page: Online : 9-Apr-24

In March 2024, Australian ‘real’ unemployment dropped 78,000 to 1,358,000 (down 0.5% to 8.7% of the workforce) as employment reached an all-time high of over 14.2 million. However, the composition of the workforce changed – part-time employment surged 295,000 (up 6.1%) to 5,164,000 (a new record high). Unfortunately, there was a substantial decrease in full-time employment, down 256,000 (down 2.7%) to 9,103,000 as the composition of the employment market changed significantly. The rise in part-time employment was correlated to the increase in under-employment, up 75,000 to 1,576,000 (10.1%, up 0.5%). In total a massive 2.93 million Australians (18.8%, unchanged) were unemployed or under-employed in March. This trend of the increasing casualisation of the workforce is evident when comparing the latest employment figures for March with a year ago. Since March 2023 part-time employment has surged by 580,000 (84% of jobs created over the last year), while full-time employment has increased by only 113,000 (16% of jobs created).

CORPORATES
ROY MORGAN LIMITED

Original article by Roy Morgan
Market Research Update – Page: Online : 20-Mar-24

In February 2024, Australian ‘real’ unemployment was virtually unchanged at 1,436,000 (9.2% of the workforce) and an additional 1,501,000 (9.6%) were under-employed. In total, 2.94 million Australians (18.8%) were unemployed or under-employed in February. Although unemployment and under-employment remain high, there has been a surge in employment over the last year – up by 711,000 to 14,228,000. This is the first month in which total employment has exceeded 14.2 million. Employment increased by 78,000 in February; full-time employment drove the increase (up 154,000 to a new record high of 9,359,000), while part-time employment dropped 76,000 to 4,869,000. The workforce in February was 15,664,000 (up 132,000 from January, and up 626,000 from a year ago). Roy Morgan’s unemployment figure of 9.2% is more than double the ABS estimate of 4.1% for January, but is approaching the combined ABS unemployment and under-employment figure of 10.7%. The February Roy Morgan Unemployment estimates were obtained by surveying an Australia-wide cross-section of people aged 14+.

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ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Original article by Roy Morgan
Market Research Update – Page: Online : 14-Feb-24

In January 2024, Australian ‘real’ unemployment was virtually unchanged at 1,382,000 (8.9% of the workforce), and an additional 1,618,000 (10.4%) were under-employed. In total, 3 million Australians (19.3%) were unemployed or under-employed in January. Although unemployment and under-employment remain high, there has been a surge in employment over the last year – up by 732,000 to 14,150,000. This is the largest annual increase in employment since the end of the COVID-19 pandemic. However, employment dropped 25,000 to 14,150,000 in January. Full-time employment drove the decrease (down 37,000 to 9,205,000), while part-time employment increased 12,000 to 4,945,000. The workforce in January was 15,532,000 (down 7,000 from December, but up 507,000 from a year ago). Roy Morgan’s unemployment figure of 8.9% is more than double the ABS estimate of 3.9% for December, but is comparable with the combined ABS unemployment and under-employment figure of 10.4%. The January Roy Morgan Unemployment estimates were obtained by surveying an Australia-wide cross section of people aged 14+.

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ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Original article by Roy Morgan
Market Research Update – Page: Online : 17-Jan-24

The latest Roy Morgan employment series data shows that the number of Australians who are employed rose by 165,000 to a new record high of 14,175,000 in December 2023. The increase was due to a rise in full-time employment (up 234,000 to a new record high of 9,242,000), while part-time employment was down 69,000 to 4,933,000. Despite surging employment – up by 607,000 compared to a year ago – some 3.02 million Australians (19.4% of the workforce) were unemployed or under-employed in December (down 0.2% from November). Some 1,364,000 Australians were unemployed in December (8.8% of the workforce), a decrease of 141,000 from November (down 0.9%). In addition to the unemployed, a further 1.65 million Australians (up 119,000) were under-employed in December. Roy Morgan’s unemployment figure of 8.8% is more than double the ABS estimate of 3.9% for November, but is comparable with the combined ABS unemployment and under-employment figure of 10.4%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Original article by Roy Morgan
Market Research Update – Page: Online : 13-Dec-23

The latest Roy Morgan employment series data shows that the number of Australians who are unemployed fell by 37,000 to 1,505,000 (9.7% of the workforce, down 0.2%) in November. Under-employment fell by 45,000 to 1,532,000 (9.9% of the workforce). A total of 3.04 million Australians (19.6% of the workforce) were unemployed or under-employed in November. Meanwhile, employment rose by 51,000 to a new record high of 14,010,000 in November. The increase was due to a rise in part-time employment (up 52,000 to a new record high of 5,002,000), while full-time employment was virtually unchanged at 9,008,000. Roy Morgan’s unemployment figure of 9.7% for November is more than double the ABS estimate of 3.7% for October, but it is almost identical to the combined ABS unemployment and under-employment figure of 10.0%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Original article by Roy Morgan
Market Research Update – Page: Online : 9-Nov-23

The latest Roy Morgan employment series data shows that the number of Australians who are unemployed fell by 22,000 to 1,542,000 (9.9% of the workforce, down 0.3%) in October. However, underemployment rose by 248,000 to a record high of 1,577,000 (10.2% of the workforce). A total of 3.12 million Australians (20.1% of the workforce) were unemployed or underemployed in October, the highest figure since October 2020. Meanwhile, employment rose by 204,000 to a new record high of 13,959,000 in October. The increase was due to a rise in both full-time employment (up 46,000 to 9,009,000) and a large increase in part-time employment (up 158,000 to a new record high of 4,950,000). Roy Morgan’s unemployment figure of 9.9% for October is almost triple the ABS estimate of 3.6% for September, but it is almost identical to the combined ABS unemployment and under-employment figure of 10.0%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Original article by Roy Morgan
Market Research Update – Page: Online : 3-Jul-23

The latest Roy Morgan employment series data shows that the number of Australians who are unemployed rose by 314,000 to 1,572,000 (10.3% of the workforce) in June. However, underemployment fell 50,000 to 1,415,000 (9.3% of the workforce, down 0.5% points). A total of 2.99 million Australians (19.6% of the workforce) were unemployed or underemployed in June, up by 264,000 from May. Meanwhile, employment fell by 72,000 to 13,635,000 in June. The drop was due to a fall in part-time employment (down 167,000 to 4,697,000), while full-time employment was up 94,000 to 8,937,000. Roy Morgan’s unemployment figure of 10.3% for June is almost triple the ABS estimate of 3.6% for May and is closer to the combined ABS unemployment and under-employment figure of 10.0%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Original article by Roy Morgan
Market Research Update – Page: Online : 28-Jun-23

In June Roy Morgan shows ‘real unemployment’ jumped 1.9% to 10.3% – reversing a series of recent drops. This is the highest ‘real unemployment’ has been since January. In contrast, under-employment was down by 0.5% to 9.3% with fewer people employed part-time in June. Overall though this mean a large rise in combined unemployment and under-employment, up 1.4% to 19.6% of the workforce (2.99 million Australians) – again, this was the highest combined figure since January. These monthly movements take place within the broader context of longer-term trends in the Australian workforce – the total number of people employed or looking for work. The Australian workforce has grown rapidly over the last year. The annual increase in the working aged Australian population hit a record in the year to June 2023 – up by 632,000 to 21.9 million. This surge in the population helped drive the workforce up by 715,000 to over 15.2 million – the second largest annual increase on record. These large increases mean that employment growth has continued over the last year, despite the falls we see in the month of June.

CORPORATES
ROY MORGAN LIMITED

Original article by Roy Morgan
Market Research Update – Page: Online : 6-Jun-23

In May unemployment dropped 0.1% points to 8.4%, according to the latest Roy Morgan employment series data – the fourth straight monthly drop. Unemployment is now at its lowest since COVID-19 restrictions lifted in late 2022. However, there was a rise in under-employment in May, up 0.9% points to 9.8%, to its highest level this year. The rise in under-employment came as part-time employment increased to 4.86 million – a fourth straight month of increases. The rising cost of living, with high inflation and increasing interest rates, are leading to more Australians in part-time employment needing to work more hours to earn a sufficient income. These people in part-time employment looking for more hours are considered under-employed – now nearly 10% of the workforce. Roy Morgan’s unemployment figure of 8.4% is more than double the ABS estimate of 3.7% for April, and is comparable to the combined ABS unemployment and under-employment figure of 9.8%.

CORPORATES
ROY MORGAN LIMITED

Original article by Roy Morgan
Market Research Update – Page: Online : 10-May-23

The latest Roy Morgan employment series data shows that the number of Australians who are unemployed fell by 124,000 to 1.29 million (8.5% of the workforce) in April. However, underemployment was up 21,000 to 1.34 million (8.9% of the workforce). A total of 2.63 million Australians (17.4% of the workforce) were unemployed or underemployed in April, down 103,000 from March. Meanwhile, employment increased by 240,000 to 13,814,000 in April. The increase was driven by an increase in full-time employment, up 68,000 to a new record high of 9,058,000; part-time employment also increased, up 172,000 to 4,756,000. Roy Morgan’s unemployment figure of 8.5% for April is 5% points higher than the ABS estimate of 3.5% for March and is comparable to the combined ABS unemployment and under-employment figure of 9.7%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS