Roy Morgan unemployment leaps on seasonality

I’ve been waiting for this release. Roy Morgan January unemployment figures always rocket because the series is not seasonally adjusted and school leavers join the work force. Then it falls through then first half as they find jobs. However, as in the case of last year, the jump is a little larger than usual. Tomorrow’s ABS Labour Force figures will be interesting.

In January 2013 an estimated 1.327 million Australians (10.9% of the workforce) were unemployed. This is up 1.3% in a month and is the highest rate of unemployment since January 2002. The Australian workforce* was 12,139,000, comprising 7,196,000 full-time workers (down 46,000); 3,616,000 part-time workers (down 226,000) and 1,327,000 looking for work (up 151,000) according to Roy Morgan.

A further 1,068,000 Australians were under-employed – working part-time and looking for more work. This is 110,000 less than a month ago, and represents 8.8% of the workforce* (down 0.8%).

In total 2.395 million Australians (19.7% of the workforce) were unemployed or under-employed in January. This is up 0.5% or 41,000 more than last month and also up a large 183,000 (1.9%) over the past 12 months since January 2012.

Comments

  1. If you have just completed Architecture or Engineering you will be on the dole for some time me thinks!

    • ScrabbleMasterScrotum

      I am curious to hear your logic behind this comment; I highly doubt that anyone with an engineering degree (even ‘just completed’) will have problems lining up a job.

      • thomickersMEMBER

        I can understand the architecture industry. +1% national unemployment = 50% of architects unemployed.

        And the few hundred who graduate with an aerospace engineering degree…ouch!

    • Quite honestly this picture is starting to look catastrophic and more European every time it is released. It is enough for public servants and their masters to weep or scurry off to their holes (or mines in the case of the Obeid family of NSW and their federal fascist MP cronies) in shame.

      Besides with the unemployment picture having reached the crystalline phase in Australia, what is really speaking from this data is the divide between the haves and have-nots in this country. Is it just the 2% of the propertied class and foreign speculators who are building debt pyramids (of houses) in this country and living drunk off the profits and revenue from the pillaging of the people’s resources in Australia? This has been answered in the past and foreign speculators are a significant if not majority portion of these lords.

      It will not be long now before the significant ratings agencies take action on the Australian rating if they have not penciled it in already. God help the bondholders.

      This year is looking action packed already and from what I have read in the Australian media we are not at all prepared for externalities that have become common place in today’s global financial environment. In this case Australian’s have to learn the hard way again.

      Time and again we are reminded of the necessity to foster, create and support the fundamental building blocks of an economy in Australia that employs people, citizens of Australia who have to live in this increasingly god forsaken island. As China-Bob has graciously pointed out to us faithfull readers and bloggers competitiveness really does not exist here any longer for us to create employment through industry and small business. BHP sacked a few more today.

      The public service has become a dead end game……

      • …but a very lucrative one (courtesy excellent memory of Alex Heyworth)

        Adam Creighton’s article in the Oz on 1 Feb:

        A more blatant example of upper-class welfare is found in Canberra, among the bloated senior ranks of the public service. Thousands are paid exorbitant sums grossly disproportionate to the social value of their output. Taxpayers lavish salaries between $200,000 and $750,000 a year on almost 2900 senior public servants.

        Another 13,230 are paid about $150,000 a year. Whole suburbs of Sydney and Melbourne pay tax to support this artificial, taxpayer-created upper class, whose incomes dwarf similarly employed public servants in London and Washington DC.

        • Great post. A+ The people of Australia need to know this, especially given the policies of these frauds have failed the populace as a whole and likely our children whilst they (I emphasis THEY – LIBOR) were at it.

          It certainly makes the blood boil when you are sweating to make buck whilst these serfs prance around playing us like a fiddle. And take it from someone who knows, they relish it.

          Catchphrase for the coming decade “the government is a servant of the people, the people are not servants of government”. How many years ago was the US constitution written and here we are in Australia today with governments acting like they own the citizen. How far we have come (pun intended).

          Australians really need to make a difference at the next election and start voting for independents and minority parties who will and CAN voice their concerns.

          • Australians really need to make a difference at the next election and start voting for independents and minority parties who will and CAN voice their concerns.

            Heh. Good luck convincing the average punter to vote for anyone except their team.

  2. I hope the Coalition are watching this and weaving it into the whole sorry narrative of the Australian economy (excl. resources). A copy of this report should be left on Swan’s desk, not that he would even dare to read it.

    • I hope the Coalition is watching it because they are in a large part responsible for it by first generating the debt bubble then failing to save enough of the mining boom that bailed it out.

      But yes, hopefully Labor reads it too.

      • In fairness to both sides, the RBA should carry some responsibility as custodians of interest rate policy!

        In criticism of both sides, each has spent like drunken sailors wallowing in the pork barrel.

        • +10 .. a sensible comment from 3d1k and a sensible article from Pascoemeter on the same day! What more can one ask for!

          (GSM, Watch and learn from 3d1k, and stop being a partisan all the time)

      • I note you make no mention again of the squandering of public monies – a record no less – by the present Govt. Agree however with your point that the Coalition can learn from the past as so can we all.

        Well, least we have an end in sight. Then we can all have a say on who we think is best placed to deal with this.

        • Neither. As pointed out below they are both essentially the same party when it comes to finance and economics.

      • HNH you do some great work and l love your posts, but please the left, right thing is completely annoying (sorry). ALP and Libs/Nats should be renamed Bankers. Let’s move away from Left/Right comments that are not value adding like the rest of the information on this site. Cheers and keep up the good work.

        • Good point. The ALP – Coalition binary focus that is repeated everywhere throughout the blogosphere is idiotic. These parties are for all intensive purposes 100% the same.

          Are either party looking to dismantle the banking cartel in any way, shape or form – the genesis of all our financial instability? No?

          Then why are otherwise intelligent people cheer-leading for their preferred tribal colours in a false political dichotomy that does not really offer any choice?

          It really does boggle the mind…

          • These parties are for all intensive purposes 100% the same.

            “Intents and”.

            Then why are otherwise intelligent people cheer-leading for their preferred tribal colours in a false political dichotomy that does not really offer any choice?

            Something I have often wondered myself. if you ever find an answer, let us know. 🙂

          • Good one Smithy! Freudian slip that one; Bob = intense LOL

            What I should have said was:

            “It is inconceivable that insufferable ingrates insist in instigating ideologically intense and inflammatory ideals in idolizing idiotic and infantile idols installed in ‘i-governments’ in the inharmonious, inequitable and inhumane inertia I inhabit.”

            Iconoclastic thinking I know…

          • Iconoclastic thinking I know…

            All that and you missed the opportunity to end with:

            “Iconoclastic introspection, I imagine.”

            ???? 😀