Australian employment at record high – 11.8 million Australians employed.
But according to Roy Morgan research 2.5 million Australians are unemployed or under-employed in November as a wave of students hit the jobs market.
- A record 12,954,000 Australians are in the workforce (up 297,000 since November 2014) and a record 11,768,000 Australians are employed (up a large 372,000 since November 2014);
- 7,576,000 Australians are employed full-time (up 22,000 since November 2014);
- A record 4,192,000 Australians are employed part-time (up 349,000 since November 2014);
- 1,186,000 Australians are looking for work: 9.2% of the workforce – down 74,000 since November 2014 and the unemployment rate is down 0.8%;
- A record 1,350,000 Australians are under-employed – working part-time and looking for more hours: 10.4% of the workforce – up 119,000 (or 0.7%) since November 2014;
- Now 2,536,000 Australians are unemployed or under-employed: 19.6% of the workforce – up 45,000 (but down 0.1% due to the growing workforce) since November 2014.
- This month’s increase from 8.8% to 9.2% means the latest Roy Morgan unemployment estimate is now 3.3% higher than the figure currently quoted by the ABS for October 2015 (5.9%).
Gary Morgan says:
“In November, a record number of Australians, 11,768,000, were in employment – either full time (7,576,000) or part-time (4,192,000) – but this was not enough to keep up with the growing workforce.
Given the seasonal nature of employment and the workforce as new students hit the employment market, the number of workers unemployed and under-employed also increased.
Unemployment increased 76,000 in a month to 1,186,000 and under-employment increased a large 262,000 to 1,350,000.
“Although Prime Minister Malcolm Turnbull has gained popular support amongst the Australian electors (L-NP 56% cf. ALP 44% according to last week’s Morgan Poll), the L-NP has not gained majority support among young electors – 18-24yr olds favour the ALP 60% cf. L-NP 40% and 25-34yr olds favour the ALP 55% cf. L-NP 45%. For the record; the employment situation for students over the next few months is crucial for the Federal Government.”
This Roy Morgan survey on Australia’s unemployment and ‘under-employed’* is based on weekly face-to-face interviews of 460,048 Australians aged 14 and over between January 2007 – November 2015 and includes 3,941 face-to-face interviews in November 2015.
*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.)
Subscribe & don’t miss a single episode of michael yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to michael yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.