Updated
Updated · roymorgan.com · Jul 13
Australia's Real Unemployment Jumps to 11.7% as 128,000 Jobs Vanish in June
Updated
Updated · roymorgan.com · Jul 13

Australia's Real Unemployment Jumps to 11.7% as 128,000 Jobs Vanish in June

2 articles · Updated · roymorgan.com · Jul 13

Summary

  • 1.86 million Australians were unemployed in June, up 156,000 from May, lifting Roy Morgan’s “real” unemployment rate by 1 percentage point to 11.7%.
  • 128,000 jobs were lost overall, with part-time employment plunging 279,000 to 4.96 million even as full-time employment rose 151,000 to 9.07 million.
  • 15.9 million people were in the workforce, up 28,000, but that increase was driven by more people looking for work — including 93,000 more seeking full-time jobs and 63,000 more seeking part-time jobs.
  • 3.35 million Australians were either unemployed or under-employed in June, or 21.1% of the workforce, extending labour under-utilisation above 3 million for a 19th straight month.

Insights

Why did full-time employment surge by 151,000 even as the overall Australian job market weakened significantly?
An oil shock threatens 160,000 jobs. How vulnerable is Australia's economy to the next global crisis?
With inflation and unemployment rising together, is Australia now facing a stagflation crisis that current policies cannot solve?