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.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.