Figures released by Roy Morgan have brought some good news, with Australia’s employment rates increasing over the last 12 months.
In June, the total Australian workforce was a record 13,530,000, with employment growing to 12,330,000, up 540,000 in the last year.
Full-time employment rose to 8,100,000 (increasing by 308,000 in 12 months), and part-time employment rose to 4,230,000 (increasing by 279,000 in 12 months).
Unemployment was also down 47,000, with 1,200,000 people unemployed and looking for work. Real unemployment – which is classified as a person “looking for work, no matter when” – is currently at 8.9 per cent, down 0.7 per cent in a year.
However, it’s not all good news.
Australians appeared to be underemployed in June, with 10.7 per cent of the workforce (a total of 2,650,000 people) were looking for work or looking for more work.
Gary Morgan, Executive Chairman, Roy Morgan Research, said in a statement that while Australian employment is growing, it’s “not fast enough to reduce Australia’s high unemployment and underemployment”
“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.
“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 underemployed 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.”