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Australian Unemployments has risen to 3.9%, an 18 month high.
This is perhaps unsurprising given the huge influx people into Australia over that time.
From Evil Murdoch press
Underemployment – which measures the share of workers who are trying to get more hours but are unable to – inched up to 6.5 per cent, according to the ABS’s seasonally adjusted figures, higher than a year earlier but still well down on pre-pandemic levels of over 8 per cent.
The workforce participation rate lifted by 0.2 percentage points to a new high of 67.2 per cent in November, with the boosted available workforce swamping the month’s employment growth.
The share of the working age population with jobs lifted back to a historical high of 64.6 per cent, the ABS figures showed.
The ABS’s latest report also included a “major” upward revision to the civilian population from October, which meant the unemployment rate for that month was upgraded from the previous estimate of 3.7 per cent to 3.8 per cent.
Nice to see that the ABS has taken a leaf out of the US and started to do upward revisions of previous data. It is unlikely to generate the same headlines as the original reporting.
Mick
This is perhaps unsurprising given the huge influx people into Australia over that time.
From Evil Murdoch press
Underemployment – which measures the share of workers who are trying to get more hours but are unable to – inched up to 6.5 per cent, according to the ABS’s seasonally adjusted figures, higher than a year earlier but still well down on pre-pandemic levels of over 8 per cent.
The workforce participation rate lifted by 0.2 percentage points to a new high of 67.2 per cent in November, with the boosted available workforce swamping the month’s employment growth.
The share of the working age population with jobs lifted back to a historical high of 64.6 per cent, the ABS figures showed.
The ABS’s latest report also included a “major” upward revision to the civilian population from October, which meant the unemployment rate for that month was upgraded from the previous estimate of 3.7 per cent to 3.8 per cent.
Nice to see that the ABS has taken a leaf out of the US and started to do upward revisions of previous data. It is unlikely to generate the same headlines as the original reporting.
Mick