In short: ANZ is warning the labour market is poised to deteriorate sharply. Recruiters are reporting hundreds of applications for individual roles. What’s next? The RBA will have to sort through the evidence on unemployment before its next meeting in August. While the jobless rate has been slowly creeping higher, alarm bells are ringing about...
Tag: unemployment
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‘I’d applied for 35 jobs and didn’t get any’: The brutal reality of finding work as unemployment rises
In short: Australia’s unemployment rate has edged up to 4.1 per cent and near record numbers of Australians are either in work or looking for it. Economists say job seekers’ chances of finding work depends on the industries in which they are searching. What’s next? The unemployment rate is expected to reach 4.5 per cent...
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Australia’s unemployment rate edges up – ABC listen
Rachel Mealey: Australia’s unemployment rate has risen to 4.1 per cent despite tens of thousands of new jobs being created. The Bureau of Statistics says more Australians entered the jobs market looking for work, pushing the unemployment rate higher. Our business reporter David Taylor joined me a short time ago. David, what are the key...
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Unemployment edges up despite more than 50,000 extra jobs amid rapid population growth
Australia’s unemployment rate has continued to edge higher, despite the creation of about 50,000, mostly full-time, jobs. Bureau of Statistics figures put the unemployment rate at 4.1 per cent in June, up slightly from 4 per cent the previous month. The bureau’s head of labour statistics, Bjorn Jarvis, said a slight increase in the proportion...
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Job mobility falls for first time in three years
In short: The ABS has recorded a decrease in job mobility for the first time in three years. It also found more people are finding it difficult to secure work this year than previous years. What’s next? Peak employment advocacy organisation Anglicare Australia said more people wanted to stay in their jobs amid the cost...
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Australia ‘teetering on the brink of recession’ as economy barely grows
Australia’s economy grew by 0.1 per cent over the first three months of 2024 and 1.1 per cent over the year, according to the Australian Bureau of Statistics (ABS) national accounts. Treasurer Jim Chalmers said it wasn’t a surprise to see the economy barely growing, but Australia was still doing better than many comparable countries....
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Evidence tells us that we’re only spending on necessities, so why are the experts advocating for more rate hikes?
If only there was a diagnosed condition called One Size Fits All (OSFA) syndrome. The chances are that, if that were the case, a significant portion of our economic gurus might just find themselves exiting their shrink and heading down to the nearest pharmacy for some relief. In the past few months, many of our...
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Why are Australia’s unemployment payments so inadequate? Experts say they have been deteriorating for decades
The Albanese government’s Economic Inclusion Advisory Committee released its second report recently. For some reason, it released the report on the Friday between Anzac Day and the weekend, so it didn’t get much media coverage. That was unfortunate, because the committee tackled some important questions. Why are Australia’s unemployment payments so inadequate? And why has the...
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What’s the unemployment rate in your region? This data tells you
Do you feel like the unemployment rate doesn’t reflect the reality of where you’re living? Australia’s headline unemployment rate is currently 3.8 per cent, in seasonally adjusted terms. But that’s a national figure, so it masks big differences in labour markets across the country, and within cities themselves. For example, in Sydney’s eastern suburbs, where...