admin-ajax.php

It’s official: June employment is at a record high of 12,330,000

Where are all the new jobs being created?

While the winter temperatures keep cooling down, Australia’s employment number are heating up according to Roy Morgan Research.

In June the total Australian workforce was a record 13,530,000 (up 540,000 in 12 months) and employment grew to a record 12,330,000 (up a large 587,000) with 1,200,000 (down 47,000) unemployed and looking for work. job employment australia

  • Australia’s real unemployment for June was 8.9% (1.2 million). In addition 1.445 million Australians were under-employed in June (10.7% of the workforce). A total of 2.645 million Australians 19.6% of the workforce) looking for work or looking for more work;
  • The increase in employment was driven by a large increase in full-time employment which rose 308,000 to a record 8,100,000 and also part-time employment rose 279,000 to 4,230,000;
  • Real unemployment is at 8.9%, down 0.7% from a year ago but under-employment is up 2.4% to 10.7% over the same period;
  • The Roy Morgan real unemployment figures are substantially higher than the current ABS estimate for May 2017 (5.5%).

7283-under-employed

Gary Morgan, Executive Chairman, Roy Morgan Research, says Australian employment is growing but not fast enough to reduce Australia’s high unemployment and under-employment:  

investor-enquiry-form

“The Australian economy is growing and generating new jobs – a total of 587,000 over the last year means Australia has a record 12,330,000 people employed in mid-2017.

“Although the longer-term trend shows increasing part-time jobs at the expense of full-time jobs over the past year both grew strongly. Full-time employment increased 308,000 to a record 8,100,000 and part-time employment increased by 279,000 to 4,230,000.

“However, despite the strong employment growth total unemployment and under-employment grew by 319,000 to 2,645,000 over the past year. This total of 2.645 million Australians unemployed or under-employed is the 21st straight month more than 2 million Australians have been looking for work or looking for more work and is a concern ahead of the imminent closure of the Australian automotive manufacturing industry in three months.”

This Roy Morgan survey on Australia’s unemployment and ‘under-employed’* is based on weekly face-to-face interviews of 538,961 Australians aged 14 and over between January 2007 – June 2017 and includes 3,843 face-to-face interviews in June 2017.

*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).

Source: www.roymorgan.com



icon-podcast-large

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.

icon-email-large

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.


Avatar for Property Update

About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


'It’s official: June employment is at a record high of 12,330,000' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*

facebook
twitter
google
0
linkedin
0
email

Michael's Daily Insights

Join Michael Yardney's inner circle of daily subscribers.

NOTE: this daily service is a different subscription to our weekly newsletter so...

REGISTER NOW

Subscribe!