Australia’s unemployment rate fell to 8.1% in September after employment jumped to a record high above 13.7 million

[ad_1]

Unemployment in September fell by 161,000 to 1.2 million Australians (8.1% of the labor force), although underemployment rose by 233,000 to 1.56 million (10.5% of the labor force). Total unemployment and underemployment rose by 72,000 to 2.76 million (18.6% of the labor force).

  • The labor force grew by 57,000 in September due to rising employment:

The labor force in September was at a record high of 14,907,000 (up 57,000 from August) – made up of a new record 13,705,000 employed Australians (up 218,000) and 1,202,000 unemployed Australians looking for work (down 161 000).

  • Employment growth in September due to increases in full-time and part-time employment:

Employment in Australia increased by 218,000 to a new record of 13,705,000 in September. The increase was driven by a rise in full-time employment of 197,000 to 8,881,000 and an increase in part-time employment of 21,000 to a new record of 4,824,000.

1,202,000 Australians were unemployed (8.1% of the workforce) in September, down 161,000 from August with fewer people looking for full-time work, down 57,000 to 535,000, and also fewer people looking for part-time work, down 104,000 to 667,000.

In addition to the unemployed, 1.56 million Australians (10.5% of the labor force) were underemployed – working part-time but looking for more work, up 233,000 from August.

A total of 2.76 million Australians (18.6% of the labor force) were either unemployed or underemployed in September, up 72,000 from August.

Compared to early March 2020, before the nationwide lockdown, there were more than 600,000 more Australians either unemployed or underemployed in September 2022 (+3% points), although total employment (13,487,000) is over 830,000 higher than pre-COVID-19 (12,872,000).

This difference, which can be attributed to the Omicron variant of COVID-19, equates to a difference of 258,420 in August 2022 over the August average for the previous five years. If these workers are added to the 487,700 classified as unemployed, it creates a total of 746,120 – equal to 5.3% of the labor force.

In addition, the ABS classifies 5.9% of the labor force (approximately 837,000 workers) as underemployed. Combining these figures adds up to 1.58 million workers, about 11.2% of the workforce.

Roy Morgan Unemployment and Underemployment (2019-2022)

Source: Roy Morgan Single Source January 2019 – September 2022 Average monthly interviews 5000.
Note: Roy Morgan unemployment estimates are actuals, while ABS estimates are seasonally adjusted.

Michele Levine, CEO Roy Morgan, says Australia’s labor force grew to a new record high of more than 14.9 million in September as full-time and part-time employment increased, pushing overall employment to a new record high over 13.7 million:

“Roy Morgan’s latest employment estimates for September showed that the labor force expanded by 57,000 to a record high of 14,907,000. There was good news, driving employment up by 218,000 to 13,705,000, led by a large full-time employment increased by 197,000 to 8,881,000, and part-time employment increased by 21,000 to a new record of 4,824,000.

“The increase in employment led to a decrease in unemployment by 161,000 to 1,202,000, 8.1% of the labor force. Of greater concern was the large increase in underemployment, up 233,000 to a record high of 1,562,000, 10.5% of the labor force. An increase in part-time employment is often associated with increased underemployment, as many people employed part-time would prefer to work more hours.

“The latest wave of COVID-19 continued to decline rapidly in September, with active cases of the virus falling below 100,000 for the first time this year. A drop in active cases of COVID-19 has led to further easing of restrictions, with mandatory self-isolation set to end next week for anyone who has returned a positive COVID-19 test result.

“The full easing of COVID-19 restrictions this month will return the labor market to ‘normal’, with workers no longer forced to self-isolate for at least a week when they return a positive test. The millions of cases of COVID-19 reported this year in Australia have severely distorted the employment situation as companies have been forced to hire extra workers to cover shortages due to the forced isolation of employees who test positive for COVID-19.

“One of the effects of the lockdown requirements has been increased hiring of part-time workers, which has reached record levels this year and pushed the underemployment level above 1.5 million to a record for the first time. Going forward, the month of November will be the first since February 2020 that restrictions related to COVID-19 will not impact the labor market, and other influences such as rising inflation and supply chain challenges will be key factors. driving employment outcomes. “

Roy Morgan’s Estimates of Unemployed and ‘Underemployed’*

Unemployed or

“Partly Busy”*

Unemployed Unemployed looking “Partly Busy”*
Full work day In absentia
2022 ‘000 % ‘000 % ‘000 ‘000 ‘000 %
January-March 2022 2380 16.4 1,187 8.2 438 749 1,193 8.2
April-June 2022 2,467 17.0 1,235 8.5 482 753 1,232 8.5
July-September 2022 2,657 17.9 1270 8.6 540 730 1,387 9.3
months
August 2021 2,537 17.7 1,362 9.5 492 870 1,175 8.2
September 2021 2,428 16.7 1,265 8.7 530 735 1,163 8.0
October 2021 2,547 17.8 1320 9.2 471 849 1,227 8.6
November 2021 2,536 17.5 1330 9.2 583 748 1,206 8.3
December 2021 2,676 18.2 1,252 8.5 557 695 1,424 9.7
January 2022 2,427 16.6 1,201 8.2 464 737 1,226 8.4
February 2022 2,357 16.3 1,227 8.5 463 764 1,130 7.8
March 2022 2,356 16.2 1,133 7.8 387 746 1,223 8.4
April 2022 2,641 18.1 1,411 9.7 559 852 1230 8.4
May 2022 2,408 16.7 1,169 8.1 477 692 1,239 8.6
June 2022 2,351 16.3 1,125 7.8 409 716 1,226 8.5
July 2022 2,516 17.1 1,246 8.5 494 752 1270 8.6
August 2022 2,692 18.1 1,363 9.2 592 771 1,329 8.9
September 2022 2,764 18.6 1,202 8.1 535 667 1,562 10.5

*The labor force includes the employed and those looking for work – the unemployed.

This study by Roy Morgan for Australia unemployment and “partly occupied”* based on weekly interviews of 858,633 Australians aged 14 and over between January 2007 and September 2022 and includes 5,919 telephone and online interviews in September 2022. *The “underemployed” are those people who work part-time or freelance who are looking for more work.

Contact Roy Morgan to learn more about Australia unemployed and understaffed; who and where they are and the challenges they face as they seek employment opportunities.

Roy Morgan Research see ABS estimates of unemployment

Source: Roy Morgan Single Source October 2006 – September 2022 Average monthly interviews 4,000.
Note: Roy Morgan unemployment estimates are actuals, while ABS estimates are seasonally adjusted.

Roy Morgan Research see ABS estimates of unemployment

Source: Roy Morgan Single source January 2000 – September 2022. Average monthly interviews 4,000.
Note: Roy Morgan unemployment estimates are actuals, while ABS estimates are seasonally adjusted.

Source: Roy Morgan Single source April 1995 – September 2022. Average monthly interviews 4,000.
Note: Roy Morgan unemployment estimates are actuals, while ABS estimates are seasonally adjusted.

ROY MORGAN MEASURES REAL UNEMPLOYMENT IN AUSTRALIA
NOT THE ‘PERCEPTION’ OF UNEMPLOYMENT – JUNE 8, 2012

Roy Morgan’s unemployment forecast is derived from a cross-sectional survey of people aged 14+ across Australia. A person is classified as unemployed if they are looking for work, no matter when. The results are not seasonally adjusted and provide an accurate measure of monthly unemployment forecasts in Australia.

Households selected for the ABS survey are interviewed monthly for eight months, with one-eighth of the sample being replaced each month. The first interview is conducted face-to-face. Follow-up interviews are conducted over the phone.

The ABS classifies a person as unemployed if, at the time of the survey, they were actively looking for work in the four weeks to the end of the reference week and if they were available for work during the reference week.

The ABS classifies a person as employed if, when surveyed, the person worked one hour or more during the reference week for pay, profit, commission or payment in kind, or even if the person worked one hour or more without pay in a family business or on a farm.

Australian Bureau of Statistics unemployment estimates are also seasonally adjusted.

For these reasons, the Australian Bureau of Statistics unemployment estimates are different from Roy Morgan’s unemployment estimate. Gary Morgan’s concerns about the ABS unemployment estimate are clearly outlined in a 2012 letter to the Australian Financial Review, which has not been published.

[ad_2]

Source link

Related posts

Nayanthara: The Meteoric Rise from South to Bollywood and the Bhansali Buzz 1

“Kaala premiere: Stars shine at stylish entrance – see photos”

EXCLUSIVE: Anurag Kashyap on Sacred Games casting: ‘Every time…’