Roy Morgan unemployment edges up

Roy Morgan September unemployment is out and climbed 0.2% in September, with a steady rising trend:

In September 2012 an estimated 1.213 million Australians (10% of the workforce, up 0.2% in a month) were unemployed, and the Australian workforce* was 12,150,000, (down 129,000 in a month) — comprising 7,345,000 full-time workers (up 82,000); 3,592,000 part-time workers (down 219,000) and 1,213,000 looking for work (up 8,000) according to Roy Morgan.

A further 903,000 Australians are under-employed – working part-time and looking for more work. This is 23,000 less than a month ago, and represents 7.4% of the workforce* — down 0.1% this month.

In total 2.116 million Australians were unemployed or under-employed in September is virtually unchanged with 15,000 less than last month, 17.4% (up 0.1%) of the workforce. However, this is up a significant 462,000 over the past 12 months since September 2011.

The latest Roy Morgan unemployment estimate of 10.0% is now nearly double the 5.1% currently quoted by the ABS for August 2012.

Comments

  1. how can there be so much discrepancy in the two figures. clearly the abs rate is similiar to the fed’s quoted inflation rate – total bollocks.
    You clearly should not include anyone working 1 hour a week in the employed category.

    • As I understand it Jay it’s an international standard the ABS adheres to. The different figures in the RM measure have never been at the same rate, but then the issue is the gap. This measure can be seen as a different slice of the market, but not necessarily that it is comparable with other countries’ UE rates.

      • Karen – glad you made the point about international standards. International comparability is an important thing.

        If you look at the ABS hours worked series. If you look at the participation rates. I am not convinced of inconsistency between ABS and RM. The labour market is clearly softening.