Australian Unemployment Higher Than 9 Percent, Analyst says

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The real unemployment in Australia was at 9.2 percent, up 0.7 percent in a month, Roy Morgan, private research firm analyst said. “The problem faced by the workforce has been a lack of new full-time jobs – now 7,594,000 Australians are employed full-time, down 83,000 from a year ago”, Morgan stated.

In October 2016 a total of 2.454 million Australians, 19.1% of the workforce, were either unemployed (1,188,000) or under-employed (1,266,000). This is up 256,000 (up 1.7%) from October 2015. In total 1.188 million Australians are unemployed, up 78,000 since October 2015.

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19.1% of Australians were either unemployed or under-employed in October 2016.

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Australian economy does not create enough full time jobs. Full-time employment is now 7,594,000 – down 83,000 from a year ago. But part-time employment has increased by 193,000 to 4,069,000 over the past year (an average of just over 16,000 per month). The higher part-time employment contributed to the rise in under-employment; now 9.9% of Australians.

Commenting on a new unemployment data Mr. Morgan compared current political situation in Australia to the United States where non-systemic candidate Donald Trump won presidential elections with a strong support of the former manufacturing heartland. Morgan Research expert sees analogous situation in an increase of popularity of populist political parties, including Pauline Hanson’s One Nation that shows many Australians are choosing their representatives from the outside of the mainstream Australian politics.

“If Malcolm Turnbull’s Coalition Government and the Labor Opposition led by Bill Shorten fail to provide leadership by implementing and advocating policies that deal with the real issues many Australians face – including the much higher level of real unemployment and under-employment than reflected by the ABS monthly employment statistics – a rising number of Australians will continue to look to the likes of Pauline Hanson, Nick Xenophon, Derryn Hinch, Jacqui Lambie and others for alternatives”, Mr. Morgan stated.

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The Roy Morgan Research company’s statistical method is based on surveys of an Australia-wide cross section by face-to-face interviews. A person is classified as unemployed if they are looking for work. The results do not take under account seasonal work thus they provide an accurate measure of monthly unemployment estimates in Australia.

In contrast, Australian government’s Bureau of Statistics Unemployment estimates are obtained by mostly telephone interviews. Households selected for the ABS Survey are interviewed each month for eight months, with one-eighth of the sample being replaced each month. The first interview is conducted face-to-face. Subsequent interviews are then conducted by telephone.

(pht)

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