Roy Morgan Research has released its unemployment estimate for May, which has shown a massive increase in unemployment since the COVID-19 lockdown commenced in mid-March, but also a slight moderation in May:
In May 14.8% of the workforce (2.09 million Australians) were unemployed. This is down 69,000 on April as Australia begins to open up according to the latest Roy Morgan employment estimates.
An additional 9.7% of the workforce (1.37 million) was under-employed, up 44,000. This means a massive 3.46 million Australians (24.5%) are either unemployed or under-employed, down 25,000.
