Australian unemployment rises in October. Total unemployed now at 14.9%
Dr. Sir John Howard, AC, WSCMoF
First rise in unemployment in four months, now 186,000 higher than October 2008
http://www.roymorgan.com/news/polls/2009/4430/
In the month of October Australia’s total unemployment as measured by Roy Morgan
was _811,000_ (_7.2%_), up _36,000_ (0.3%) since September and up _186,000_
since October 2008.
In October 2009 there were 6,957,000 (down 160,000 on September 2009 and down
78,000 on October 2008) Australians working full-time and 3,428,000 (up 169,000
on September 2009 and up 63,000 on October 2008) working part-time. This is a
similar employment “movement” as measured by Roy Morgan in October 2008 — then
full-time employment fell 210,000; part-time employment rose 232,000.
The latest Roy Morgan unemployment estimate is 1.5% above the 5.7% currently
quoted by the ABS for September.
The Roy Morgan October 2009 ‘under-employed’* estimate is 861,000 (7.7%), down
48,000 (0.5%) on September 2009.
In total in October an estimated _1,672,000_ (_14.9%_) Australians were
unemployed or ‘under-employed,’* down 12,000 on September 2009.
In October 2009 there were 430,000 (down 37,000 on September 2009 and up 77,000
on October 2008) Australians looking for full-time work and 381,000 (up 73,000
on September 2009 and up 109,000 on October 2008) Australians looking for
part-time work.
Gary Morgan says:
“The latest October Roy Morgan unemployment (811,000 (7.2%), up 36,000
(0.3%)) and underemployment (861,000 (7.7%), down 48,000 (0.5%)) estimates show
that although the total number of Australians unemployed or underemployed
(1,672,000 (14.9%), down 12,000) is virtually unchanged since September,
unemployment in Australia has risen for the first time since June.
“The rise in the Roy Morgan unemployment estimate for October (811,000, up
36,000) has been driven by an increasing number of Australians looking for
part-time work (381,000, up 73,000) — which has only partly been offset by a
fall in Australians looking for full-time work (430,000, down 37,000). This is a
similar employment “movement” as found by Roy Morgan a year ago in October 2008
— then full-time employment fell 210,000; part-time employment rose 232,000.
“However, the Roy Morgan unemployment estimate is now 186,000 higher than
it was in October 2008 (625,000).
“The RBA meets tomorrow to decide whether to continue raising interest
rates, today’s Roy Morgan unemployment and underemployment figures showing
unemployment on the increase in the economy should give the RBA just cause to
temper their enthusiasm for increasing rates before the Australian economy has
fully emerged from the global slowdown.
“Unemployment in many countries around the world is still rising and it is
premature to believe that Australian unemployment has already peaked. The
weakness of the global recovery has been shown in recent weeks as the
stockmarket rally that began in March has now halted — the Australian
stockmarket fell during October — its first monthly fall since February this year.
“Until there are sustainable signs of growth in Australia — including
falling Roy Morgan estimates for both unemployment and underemployment, the RBA
should not increase interest rates, as putting interest rates up would weaken
the Australian economy as it tries to emerge from the global slowdown.”
This Roy Morgan survey on Australia’s unemployment and ‘under-employed’* is
based on weekly interviews covering January 2007 — October 2009 and in total
148,075 Australians aged 14 and over were interviewed face-to-face including
4,163 interviews in October 2009.
*The ‘under-employed’ are those people who are in part-time work or consultants
who are looking for more work. (Unfortunately the ABS does not measure this
figure in their monthly unemployment survey.)
** The Fair Work Bill 2009 was introduced into the House of Representatives on
25 November 2008. The Fair Work Act 2009 received Royal Assent on 7 April 2009.
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http://www.youtube.com/watch?v=_ipvdBnU8F8
- KRudd at his finest.
"The Labour Party is corrupt beyond redemption!"
- Labour hasbeen Mark Latham in a moment of honest clarity.
"This is the recession we had to have!"
- Paul Keating explaining why he gave Australia another Labour recession.
"Silly old bugger!"
- Well known ACTU pisspot and sometime Labour prime minister Bob Hawke
responding to a pensioner who dared ask for more.
"By 1990, no child will live in poverty"
- Bob Hawke again, desperate to win another election.
"A billion trees ..."
- Borke, pissed as a newt again.
"Well may we say 'God save the Queen' because nothing will save the governor
general!"
- Egotistical shithead and pompous fuckwit E.G. Whitlam whining about his
appointee for Governor General John Kerr.
"SHUT THE FUCK UP YOU DUMB CUNT!"
- FlangesBum on learning the truth about Labour's economic capabilities.
"I don't care what you fuckers think!"
- KRudd the KRude at his finest again.
"We'll just change it all when we get in."
- Garrett the carrott