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The latest Roy Morgan Research (RMR) unemployment estimate for December softened, rising by 0.6% over the month to 8.7%:
However, over the year, unemployment fell by 1.0%.
Underemployment surged by 1.9% over the month and by 1.1% over the year, with labour underutilisation tracking at 18.6% (up from 0.1% from a year ago):
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.