Sunday, 19 July 2020

Unemployment in Australia is at a 22 year high, however NSW is faring a little better


Australian Bureau of Statistics, Labour Force June 2020, 16 July 2020:


NATIONAL SEASONALLY ADJUSTED ESTIMATES 
  • Employment increased 210,800 to 12,328,500 people. 
  • Full-time employment decreased 38,100 to 8,489,100 people and part-time employment increased 249,000 to 3,839,400 people. 
  • Unemployment increased 69,300 to 992,300 people. 
  • Unemployment rate increased 0.4 pts to 7.4%. 
  • Underemployment rate decreased 1.4 pts to 11.7%. 
  • Underutilisation rate decreased 1.0 pts to 19.1%. 
  • Participation rate increased by 1.3 pts to 64.0%. 
  • Monthly hours worked in all jobs increased 64.3 million hours to 1,664.7 million hours.
NATIONAL YOUTH UNEMPLOYMENT
  • Employment for 15-24 year olds increased by 101,500 people (6.3%). 
  • Unemployment rate for this group increased 0.4 pts to 16.4%.
  • Participation Rate for 15-24 year olds increased 3.9 pts to 63.5%. 
  • Around 30% of the people moving into employment in June were aged 15 to 24 years.
New South Wales in June 2020 :
  • Number of Employed Persons rose by est. 81,000 to total 3,949,500 individuals. This still leaves a gap of est.124,200 persons who lost the job they held in January 2020 and have not yet found other employment (original data);
  • Full-time Employment rose by est. 8,200 positions (original data);
  • Part-time Employment rose by est. 72,800 positions (original data);
  • the Employment to Population Ratio was Persons 59.5, Males 64.4, Females 54.8 (original data);
  • the Unemployment Rate was Persons 6.7%, Males 6.7%, Females 6.8% (original data);
  • Underemployed Persons totalled est. 473,900 individuals (original data); and
  • the Workforce Participation Rate was Persons 63.8% - up 1.6 percentage points, Males 69.0% - up 2 percentage points, Females 58.7% - up 1.6 percentage points (original data).

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