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Victoria has become a lead weight on the nation’s job market, experiencing significantly higher unemployment and underemployment than the national average.
Chart by Alex Joiner (IFM Investors)
The following table from the Australian Bureau of Statistics’ (ABS) April labour force report shows that Victoria’s trend unemployment rate (4.8%) and underemployment rate (6.4%) were the highest on the mainland, easily exceeding the national average:
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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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