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Roy Morgan has released its labour force estimates for October, with the nation’s unemployment rate falling 0.3% to 9.9%, whereas the underemployment rate soared 1.5% to 10.2%:
According to Roy Morgan:
“In October 2023 a massive 3.12 million Australians were unemployed or under-employed (20.1% of the workforce) – the highest figure for three years since October 2020, according to the latest Roy Morgan employment series data.”
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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.
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