Australian dollar sinks to 62 US cents, ASX falls to six-week low after US Federal Reserve cuts interest rates — as it happened
4 weeks ago

Australian dollar sinks to 62 US cents, ASX falls to six-week low after US Federal Reserve cuts interest rates — as it happened

ABC  

Gareth Hutchens, the ABS defines employment as anyone employed for one hour or more in a given week and unemployment as those not employed one hour a week and/or looking for work. Very few people can survive on one hour work per week. The ABS defines employed as one hour or more per week precisely because it helps them to measure underemployment. But I also understand why, in the modern era, the ABS needs to define "employment" as one hour or more a week - it's because everyone needs to know what level of underemployment and underutilisation there is in the economy, now that we've turned our back on those post-war full employment years and we're managing the economy in a world of lower tariffs, globalised labour markets, and free floating exchange rates.

Employment Work Hour One Hour Employed More Hours  federal  employment  happened  employed  hour  sixweek  youve  low  unemployment  rates  falls  youre  week  working  sinks  dollar  work  looking  reserve  interest

History of this topic

Unemployment falls again to 4.5pc, but hours worked paints the true picture of lockdown
3 years, 4 months ago

Unemployment falls again to 4.5pc, but hours worked paints the true picture of lockdown

ABC  

Australia's unemployment rate has dropped again, to the lowest level in almost 13 years, but a steep fall in hours worked last month paints a more accurate picture of the economic pain resulting from COVID lockdowns. Key points: Unemployment fell from 4.6 to 4.5 per cent, even though 146,300 jobs were lost in August Hours worked nationally fell by 3.7 …

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