Australia's Real Unemployment Hits 10.7% as Employment Falls by 300,000 in May
Updated
Updated · roymorgan.com · Jun 16
Australia's Real Unemployment Hits 10.7% as Employment Falls by 300,000 in May
1 articles · Updated · roymorgan.com · Jun 16
Summary
1.704 million Australians were unemployed in May, up 69,000 from April, lifting Roy Morgan’s “real” unemployment rate 0.6 points to 10.7%.
300,000 jobs disappeared over the month, cutting total employment to 14.156 million and shrinking the workforce by 231,000 to 15.86 million.
224,000 full-time roles and 76,000 part-time roles were lost, while the rise in unemployment was driven by 143,000 more people seeking part-time work.
1.503 million people were still under-employed, down 136,000, leaving 3.207 million Australians—or 20.2% of the workforce—either unemployed or under-employed.
Roy Morgan said labour under-utilisation has stayed above 3 million for 18 straight months, pointing to a weak job market alongside 0.3% quarterly GDP growth.