According to Roy Morgan Research, 14.5% of Australians were unemployed in June with another 10% underemployed:
In June 14.5% of the workforce (2.05 million Australians) were unemployed. This is 42,000 fewer than May, however, this slight improvement was largely cancelled out by the rise in under-employment, now at 10% of the workforce (1.41 million), and up 37,000 on a month ago.
This means a massive 3.45 million Australians (24.5% of the workforce) were either unemployed or under-employed, an improvement of only 5,000 on May according to the latest Roy Morgan employment estimates.
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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.
