Australia’s loss – 2.6 million, 16% of workforce, unemployed or underemployed

Australia’s loss – 2.6 million, 16% of workforce, unemployed or underemployed

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Australias loss – Jobs growth is entirely due to part time roles, while 2.5 million people, or 16% of the workforce, are unemployed or underemployed 2.59m Australians unemployed or under-employed in January

Roy Morgan employment series | February 05 2018 (January 2018 data)

Finding No. 7483 Topic: Press Release Unemployment Country: Australia

http://www.livereactor.com.au/findings/7483-roy-morgan-australian-unemployment-estimates-january-2018-201802050704

Michele Levine, Chief Executive Officer, Roy Morgan, said jobs growth in calendar year 2017 was driven entirely by growth in part-time employment which may partly explain why Australians don’t believe the monthly ABS unemployment estimates are accurate:

“Today’s Roy Morgan employment estimates show overall employment growth of 116,000 jobs since January 2017 however this growth was entirely driven by the increase in part-time employment up 156,000 to 4,191,000 while full-time employment was down 40,000 to 8,045,000.

“The increasing casualisation of the workforce has been a consistent trend in recent years and in January 34.3% of employed Australians were working part-time, up 1% from a year ago while 65.7% of employed Australians were working full-time. However, although rising employment is definitely a good thing, one of the consequences of a greater proportion of part-time employees is a rising level of under-employment.

“In January a high 1.37 million Australians (10.2% of the workforce) were under-employed, up a sizeable 264,000 from a year ago, and along with 1.22 million (9.1%) unemployed Australians this meant 2.59 million Australians (19.3%) were either looking for work or looking for more work – 28 straight months more than 2 million Australians were either unemployed or under-employed.

“The enduring level of under-employment in Australia may partly explain why Australians just don’t believe the official ABS unemployment estimates. A recent Roy Morgan survey published in The Australian – ‘Voters sceptical of official unemployment figures, Roy Morgan research finds by Adam Creighton’ shows nearly 60% of Australians surveyed, and 70% aged 18-24, think the unemployment rate is closer to 10, 15 or 20 per cent far above the official level of 5.5 per cent and more in line with Roy Morgan’s unemployment (9.1%) and under-employment (10.2%) estimates.

“However, despite the persistence of worryingly high labour force slack the early weeks of 2018 have provided some positivity about the Australian economy with Consumer Confidence of 121.4 in January the highest for seven years.

“Other positive indicators include an increasing Roy Morgan Business Confidence, at 117.4 entering the new year at its highest since 2013 while some 2.38 million Australians intend to purchase a car in the next four years, up a solid 142,000 from a year ago.”

This Roy Morgan survey on Australia’s unemployment and ‘under-employed’* is based on weekly face-to-face interviews of 566,877 Australians aged 14 and over between January 2007 – January 2018 and includes 3,951 face-to-face interviews in January 2018.

*The ‘under-employed’ are those people who are in part-time work or consultants who are looking for more work. (Unfortunately the ABS does not release this figure in their monthly unemployment survey results).

Roy Morgan Unemployed and ‘Under-employed’* Estimates

  Unemployed or

‘Under-employed’*

Unemployed Unemployed looking for ‘Under-employed’*
Full-time Part-time
2016 ‘000 % ‘000 % ‘000 ‘000 ‘000 %
Jan-Mar 2016 2,496 19.1 1,362 10.4 639 723 1,134 8.7
Apr-Jun 2016 2,322 18.1 1,317 10.2 637 680 1,005 7.8
Jul-Sep 2016 2,296 17.8 1,266 9.8 574 692 1,030 8.0
Oct-Dec 2016 2,446 18.9 1,191 9.2 635 556 1,255 9.7
2017                
Jan-Mar 2017 2,377 17.9 1,261 9.5 591 670 1,116 8.4
Apr-Jun 2017 2,525 19.0 1,234 9.3 607 627 1,291 9.7
Jul-Sep 2017 2,508 19.1 1,254 9.6 598 656 1,254 9.5
Oct-Dec 2017 2,442 18.5 1,275 9.7 659 616 1,167 8.8
Months                
December 2016 2,584 20.0 1,186 9.2 650 536 1,398 10.8
January 2017 2,402 17.9 1,295 9.7 634 661 1,107 8.2
February 2017 2,390 17.9 1,253 9.4 576 677 1,137 8.5
March 2017 2,340 17.7 1,236 9.3 563 673 1,104 8.4
April 2017 2,307 17.6 1,217 9.3 612 605 1,090 8.3
May 2017 2,622 20.0 1,284 9.8 659 625 1,338 10.2
June 2017 2,645 19.6 1,200 8.9 550 650 1,445 10.7
July 2017 2,462 18.8 1,236 9.4 568 668 1,226 9.4
August 2017 2,565 19.7 1,324 10.2 639 685 1,241 9.5
September 2017 2,498 18.9 1,202 9.1 586 616 1,296 9.8
October 2017 2,334 18.0 1,226 9.5 658 568 1,108 8.5
November 2017 2,394 18.2 1,288 9.8 624 664 1,106 8.4
December 2017 2,600 19.4 1,312 9.8 696 616 1,288 9.6
January 2018 2,590 19.3 1,219 9.1 642 577 1,371 10.2

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