Adios JobKeeper. Aussie employment hits record high

Roy Morgan Research has released its labour force survey for April, which reveals that Australian employment hit a record high 13 million in April, with the unemployment rate also falling another 2.4% to 9.0%:

Roy Morgan unemployment

Australia’s stunning labour market recovery continued in April.

Almost everything is headed in the right direction as the economy powers through the end of JobKeeper:

  • 13.29 million Australians were employed in April – a new record high.
  • Unemployment dropped in April to its lowest since early March 2020 (pre-pandemic).
  • The workforce was up in April, boosted by the record high employment for the month.
  • However, because of rising participation, there were over 500,000 more Australians either unemployed or under-employed (+2.7% points) than in early March 2020, before the nation-wide lockdown was implemented.
  • For the second straight month unemployment dropped in all six States in April.
  • And for the first time since November 2011 during the middle of the ‘mining boom’ , all States have had an unemployment rate below 10%.

Commenting on the results, Roy Morgan CEO Michele Levine noted:

“Australia’s employment markets have powered through the end of the Federal Government’s $90 billion JobKeeper wage subsidy program with employment increasing by 542,000 in April to a new record high of 13,291,000 – up 420,000 on the employment numbers in early March 2020.

“In April there were increases to full-time employment, up 129,000 to 8,534,000 and part-time employment, up 413,000 to 4,757,000. Part-time employment is now at a new record high while full-time employment is at its highest since February 2020 prior to the COVID-19 pandemic…

“Overall, the economy has taken the ending of the JobKeeper wage subsidy in its stride…”

Expect a good ABS employment number for April. Adios JobKeeper!

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