Unemployment hits 6.9pc as 30,000 jobs go

Original article by Matthew Cranston
The Australian Financial Review – Page: 4 : 16-Oct-20

The locked-down Victorian economy shed 36,000 jobs in September, although the state’s unemployment rate is estimated to have fallen by 0.5 percentage points due to a decline in the participation rate. The national unemployment rate increased from 6.8 per cent to 6.9 per cent in September, according to the Australian Bureau of Statistics’ latest estimate. The ABS jobs data does not include people who have given up looking for work. UBS economist George Tharenou suggests that the nation’s real unemployment rate is likely to be around 10 per cent at present.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, UBS HOLDINGS PTY LTD

Geelong jobless disaster

Original article by Harrison Tippett
Geelong Advertiser – Page: 9 : 29-Jun-17

Data from Roy Morgan Research shows that the underemployment rate in Geelong is 8.5 per cent, while 17 per cent of people in the Victorian regional city are either unemployed or seeking more work. Roy Morgan executive chairman Gary Morgan says underemployment is the biggest problem facing Australia, and failure to take action will see the Australian dollar slump and the economy go into recession. Meanwhile, Geelong Trades Hall secretary Colin Vernon says the increase in underemployment could result in workers being exploited.

CORPORATES
ROY MORGAN RESEARCH LIMITED, GEELONG TRADES HALL, AUSTRALIAN BUREAU OF STATISTICS

Jobless rate in Victoria to hit 7.3%

Original article by Peter Martin
The Age – Page: 4 : 11-Nov-14

Macroeconomics forecasts that the unemployment rate in Victoria will reach 7.3 per cent in the 2016-17 financial year. This compares with the state’s current trend unemployment rate of 6.8 per cent. The firm’s projections also show the Australian Government will record a Budget deficit of $A47.8bn in 2014-15, while the Government itself has forecast a deficit of just $A29.8bn

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MACROECONOMICS.COM.AU PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE

Jobless rate at 13-year high as poll looms

Original article by Peter Martin, Josh Gordon
The Age – Page: 4 : 7-Nov-14

Data from the Australian Bureau of Statistics shows that the unemployment rate in Victoria was 6.8 per cent in October 2014. It has remained at around this level for the last four months, and compares with a national jobless rate of 6.2 per cent. The jobs data presents a challenge for the State Government ahead of the election on 29 November. The state’s unemployment rate was just 4.9 per when the Coalition was elected in 2010

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, VICTORIA. DEPT OF PREMIER AND CABINET, VICTORIA. DEPT OF TREASURY AND FINANCE, FAIRFAX MEDIA LIMITED – ASX FXJ, IPSOS AUSTRALIA PTY LTD, AUSTRALIAN LABOR PARTY

Youth unemployment spirals to ‘social disaster’

Original article by Henrietta Cook
The Age – Page: 1 : 26-Aug-14

New data shows that Victoria now boasts Australia’s second-highest level of youth unemployment, which rose from 12.3 per cent to 13.8 per cent in the year to July 2014. Youth unemployment has risen in 12 regions of Victoria in the last 12 months, with just five regions recording a fall. Emma King, the CEO of the Victoria Council of Social Service, says government, business and the community must co-operate to address the issue, noting that youth unemployment is at its highest level in 15 years

CORPORATES
VICTORIAN COUNCIL OF SOCIAL SERVICE, BROTHERHOOD OF ST LAURENCE, AUSTRALIAN BUREAU OF STATISTICS, VICTORIA. DEPT OF TREASURY AND FINANCE, VICTORIA. DEPT OF PREMIER AND CABINET, AUSTRALIAN LABOR PARTY