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The Reserve Bank of Australia (RBA) has released its June Bulletin, which includes an interesting report on the reasons behind the rise in Australia’s underemployment rate.
Australia’s underemployment has risen over many decades.
The RBA defines an underemployed person as “someone who is currently employed, but who would like and is available to work additional hours”. Thus, even in someone has “one or more jobs, there is a shortfall between that person’s preferred number of hours and their actual hours worked”.
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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.