UNEMPLOYMENT – AUSTRALIA

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

Australia’s economy up there with best: IMF

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

The International Monetary Fund is upbeat about the outlook for the Australian economy, forecasting that it will expand by three per cent in 2018 and 3.1 per cent in 2019. This compares with growth of just 2.3 per cent in 2017. The IMF also forecasts that Australia’s unemployment rate will fall to 5.3 per cent in 2018 and 5.2 per cent in 2019. The IMF is also bullish about the outlook for the global economy, although it has cautioned that global growth could be undermined by any trade war between the US and China.

CORPORATES
INTERNATIONAL MONETARY FUND, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

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

Australians back at work in February, full-time employment hits record

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

A Roy Morgan survey shows 1.31 million Australians were unemployed in February (9.7% of the workforce); an increase of 57,000 (up 0.3%) on a year ago. In addition 1.21 million Australians (10.2% of the workforce) are now under-employed, working part-time and looking for more work, a rise of 73,000 in a year (up 0.4%). The same survey also showed that 12,228,000 Australians were employed in February – an increase of 133,000 over the past year equal to an average of just over 10,000 jobs added per month. The increase in employment year on year was driven entirely by an increase in full-time employment which rose 249,000 to a record high 8,153,000 while part-time employment fell 116,000 to 4,075,000. Roy Morgan real unemployment figures of 9.7% for February are substantially higher than the current ABS estimate for January 2018 of 5.5%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Low inflation, low unemployment, and Lowe restraint

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Original article by David Uren
The Australian – Page: 1 & 6 : 9-Feb-18

Reserve Bank governor Philip Lowe has indicated that an interest rate rise is now more likely than a rate cut. However, he says the central bank is unlikely to tighten monetary policy until inflation rises around the mid-point of its target range of 2-3 per cent and there is a further reduction in the unemployment rate. He has stressed that the Reserve Bank does not need to adjust monetary policy in line with other central banks. Lowe also says the Reserve Bank does not expect its inflation forecasts to be unduly affected by the recent sharemarket volatility.

CORPORATES
RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD

2.59m Australians unemployed or under-employed in January

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Original article by Roy Morgan
Market Research Update – Page: Online : 6-Feb-18

A Roy Morgan survey shows that 1.219 million Australians were unemployed (9.1% of the workforce) in January 2018, a decrease of 76,000 (down 0.6%) on a year ago. In addition, 1.371 million Australians (10.2% of the workforce) were under-employed, working part-time and looking for more work, a rise of 264,000 in a year. In total, 2.59 million Australians were unemployed or under-employed in January. The figures also show that 12,236,000 Australians were employed in January – an increase of 116,000 over the past year. The Roy Morgan real unemployment figures are substantially higher than the current ABS estimate of 5.5% for December 2017. Roy Morgan CEO Michele Levine says jobs growth in calendar year 2017 was driven entirely by growth in part-time employment, which may partly explain why Australians do not believe that the monthly ABS unemployment estimates are accurate.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Cynical voters struggle to believe official unemployment figures

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Original article by Adam Creighton
The Australian – Page: 2 : 2-Feb-18

Australia’s official unemployment rate fell from 5.7 per cent to 5.5 per cent in 2017, but research by Roy Morgan shows that nearly 60 per cent of Australians think the jobless rate is much higher. The survey found that people in South Australia and Queensland in particular believe that their state’s real unemployment rate is significantly higher than official figures suggest. Roy Morgan estimates that the real unemployment rate is around 10 per cent, and executive director Gary Morgan says politicians, the Australian Bureau of Statistics and the general public know that the official figures are "nonsense".

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS, SA BEST, AUSTRALIAN LABOR PARTY

Victoria lags amid jobs boom

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Original article by Eryk Bagshaw
The Age – Page: 1 : 19-Jan-18

Australian Bureau of Statistics data shows that 393,000 jobs were created during 2017, including 35,000 in December. The economy has recorded 15 successive months of jobs growth, and 2017 was the first calendar year in which the number of jobs increased each month since the ABS began releasing monthly data in 1978. The labour force participation rate rose to 65.7 per cent in December, but the unemployment rate increased from 5.4 per cent to 5.5 per cent. Victoria’s unemployment rate rose to 6.1 per cent, and just 87,000 jobs were created in the state during 2017, compared with 140,000 in New South Wales.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, VICTORIA. DEPT OF TREASURY AND FINANCE, NEW SOUTH WALES. THE TREASURY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, RESERVE BANK OF 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

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