Coronavirus sent shockwaves through the Australian job market. Here are the numbers you need to know
4 years, 7 months ago

Coronavirus sent shockwaves through the Australian job market. Here are the numbers you need to know

ABC  

They're some of the first solid numbers on the impact COVID-19 restrictions are having on Australians' jobs, and they've been described as "devastating" and "terribly shocking" by Prime Minister Scott Morrison. Prime Minister Scott Morrison described the number as "terribly shocking, although not unanticipated", warning more dire employment numbers would follow Thursday's announcement. It's a drop of 2.4 per cent in what's called the participation rate — or the number of people engaged in the workforce overall including people looking for a job. "The large drop in employment did not translate into a similar-sized rise in the number of unemployed people because around 489,800 people left the labour force," the ABS's Bjorn Jarvis said. That's a 50 per cent increase on the previous month's total of 1.21 million, with 600,000 more people being classed as underemployed in April.

Job Work Month Number Cent Australian  coronavirus  market  work  cent  hours  numbers  sent  australian  lost  know  rate  need  shockwaves  job  drop  number  month

History of this topic

Australia's unemployment rate falls to 3.9pc in November, its lowest level since March
4 weeks ago

Australia's unemployment rate falls to 3.9pc in November, its lowest level since March

ABC  

Australia's unemployment rate fell to 3.9 per cent in November, down from 4.1 per cent in October. "The only downside to Australia's remarkably strong job market is that any hope of a near-term interest rate cut is over," said Callam Pickering, APAC economist at global job site Indeed. "Today's blockbuster November employment report seemingly pushes back — yet again — …

Unemployment rate climbs to 4.2 per cent in July despite 58,000 people finding work
4 months, 3 weeks ago

Unemployment rate climbs to 4.2 per cent in July despite 58,000 people finding work

ABC  

The unemployment rate has climbed to 4.2 per cent in July — its highest level since November 2021 — as Australia's economy continues to slow down. "The unemployment rate rose to 4.2 per cent in July, with the number of unemployed growing by 24,000 people and employed by around 58,000. However, that competitive jobs market extends well beyond graduates — …

Economists warn unemployment rate could rise above 5 per cent, with hundreds of applications for individual jobs
5 months, 2 weeks ago

Economists warn unemployment rate could rise above 5 per cent, with hundreds of applications for individual jobs

ABC  

While the jobless rate has been slowly creeping higher, alarm bells are ringing about the potential for a big surge in unemployment. Dr Chapman warned there was a risk Australia's unemployment rate could peak above 5 per cent, which is well above current forecasts, by the end of next year. Jobless rate acceleration a matter of time The obvious question …

Unemployment edges up despite more than 50,000 extra jobs amid population and participation growth
5 months, 3 weeks ago

Unemployment edges up despite more than 50,000 extra jobs amid population and participation growth

ABC  

Australia's unemployment rate has continued to edge higher, despite the creation of about 50,000, mostly full-time, jobs. "The participation rate in June was only 0.1 percentage point lower than the historical high of 67.0 per cent in November 2023," he noted. "This, along with the continued high level of job vacancies, suggests the labour market remains relatively tight, despite the …

Australia's unemployment rate declines to 4 per cent in May, presenting a 'goldilocks' scenario for Reserve Bank
6 months, 3 weeks ago

Australia's unemployment rate declines to 4 per cent in May, presenting a 'goldilocks' scenario for Reserve Bank

ABC  

Australia's headline unemployment rate was 4 per cent in May, down 0.1 percentage points from April. However, ABS data show the "trend" unemployment rate — which looks through the more volatile seasonally adjusted monthly figure — picked up slightly in May, from 3.9 per cent to 4 per cent. "At 4 per cent, the unemployment rate is spot on the …

The sad reality of the cost of living crisis in Australia: Millions are forced to make one major change to their lives
7 months, 2 weeks ago

The sad reality of the cost of living crisis in Australia: Millions are forced to make one major change to their lives

Daily Mail  

One-in-five Australians are working a second job to keep up with rising costs and almost half are afraid they will be let go. An employment survey of more than 6000 Australians has found inflation and an employer-driven job market is pushing more workers to take on a second job, while 18 per cent are working more hours at their current …

Australia's unemployment rate rises to 4.1 per cent in April
7 months, 3 weeks ago

Australia's unemployment rate rises to 4.1 per cent in April

ABC  

Australia's headline unemployment rate rose to 4.1 per cent in April, up 0.2 percentage points from March. "This suggests that the labour market remains tight, though less tight than late 2022 and early 2023," said Bjorn Jarvis, ABS head of labour statistics. "The bank will therefore be pleased that overall hours worked fell by 0.8 per cent year-on-year, the first …

Pay rising too fast for interest rate cut, economists warn
10 months, 3 weeks ago

Pay rising too fast for interest rate cut, economists warn

The Telegraph  

The number of people kept out of the jobs market by long-term sickness remains near an all-time high, ONS figures showed. One person in every 15 of working age – 6.6pc, equivalent to 2.8 million people – said ill health kept them from working or from looking for a job in the final quarter of 2023. Government must do more …

NHS backlogs and Covid leave long-term sick level at record high
2 years, 2 months ago

NHS backlogs and Covid leave long-term sick level at record high

The Telegraph  

James Smith, ING economist, said that it is “hard to escape the conclusion that this is at least partly linked to delays in the NHS”. He said: “The increasing economic inactivity rate, now standing at 21.7pc, should be a cause for concern.” The UK jobs market has been extremely tight this year as businesses battle for workers. The tightness in …

Long-term unemployment is falling rapidly, and it's changing lives
2 years, 4 months ago

Long-term unemployment is falling rapidly, and it's changing lives

ABC  

The labour market hasn't been this tight in decades. In October last year, when the national unemployment rate was still 5.2 per cent, there were 183,400 people in long-term unemployment. But the unemployment rate is now 3.4 per cent, a level last seen in the early 1970s, and the number of people in long-term unemployment has dropped by 55,500. Well, …

Unemployment may soon dip below 3 per cent and is set to stay below 5 per cent for years to come
2 years, 4 months ago

Unemployment may soon dip below 3 per cent and is set to stay below 5 per cent for years to come

ABC  

Unfathomably, Australia's unemployment rate has sunk to 3.5 per cent. In the years before COVID, typically 3 per cent of the workforce worked less than usual hours in any given week as a result of illness or injury. In the half century we have been collecting modern employment statistics, unemployment has shot up dramatically three times: in the mid-1970s, when …

The unemployment rate fell to 3.5%, matching its lowest level in the last 50 years
2 years, 5 months ago

The unemployment rate fell to 3.5%, matching its lowest level in the last 50 years

NPR  

The unemployment rate fell to 3.5%, matching its lowest level in the last 50 years U.S. employers added more than half a million jobs in July: more than twice as many as forecasters had expected. We are getting some mixed signals in the economic data, but Daniel Zhao, who's with the job search website Glassdoor, says the job market just …

With inflation rising and talk of a possible recession, Australia's low unemployment rate may not be cause for celebration
2 years, 5 months ago

With inflation rising and talk of a possible recession, Australia's low unemployment rate may not be cause for celebration

ABC  

Have you ever had the "tap on the shoulder"? So why raise this idea when this week Australia's unemployment rate fell to 3.5 per cent — the lowest level since 1974? "We think a relatively large rise in unemployment over a short period of time is a more useful definition of recession for Australia than the 'accepted' definition of two …

Unemployment plunges to 3.5 per cent, with nearly 90,000 jobs added in June
2 years, 5 months ago

Unemployment plunges to 3.5 per cent, with nearly 90,000 jobs added in June

ABC  

Australia's official unemployment rate has dropped to 3.5 per cent, with an estimated 88,400 jobs added to the economy last month. Key points: The unemployment rate has fallen from 3.9 to 3.5 per cent This is the lowest official jobless rate recorded since August 1974 Job vacancies remain high, with almost one available position for every officially unemployed person This …

EXPLAINER: 5 key takeaways from the June jobs report
2 years, 6 months ago

EXPLAINER: 5 key takeaways from the June jobs report

Associated Press  

WASHINGTON — Inflation is raging. And the Fed will likely see June’s hiring spree as another reason to keep aggressively raising its benchmark short-term interest rate as it did in March, May and June to try to tame inflation. Here are five takeaways from the June jobs report: HIRING: STRONG BUT SLOWING “The recent numbers usually would be consistent with …

EXPLAINER: 5 key takeaways from the June jobs report
2 years, 6 months ago

EXPLAINER: 5 key takeaways from the June jobs report

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. And the Fed will likely …

Australia job openings at record high. These industries struggling to find staff
2 years, 6 months ago

Australia job openings at record high. These industries struggling to find staff

Live Mint  

Job vacancies in Australia surged to all-time highs in the May quarter as firms struggled to find staff amid a tightening labour market. There were 480,000 job vacancies in May 2022 in Australia, higher than more than 58,000 more than in February 2022, according to new seasonally adjusted figures from the Australian Bureau of Statistics. Bjorn Jarvis, head of Labour …

The workers hit the hardest
2 years, 8 months ago

The workers hit the hardest

The Hindu  

According to the Centre for Monitoring Indian Economy ’s Consumer Pyramids Household Survey, employment in India fell from 408.9 million in 2019-20 to 387.2 million in 2020-21 and then recovered to 401.8 million in 2021-22. The 7 million jobs lost over the two years since the COVID-19 outbreak is unevenly distributed, so it may be difficult to cover most of …

Unemployment rate down, but does that mean more jobs created? Data suggest otherwise
2 years, 10 months ago

Unemployment rate down, but does that mean more jobs created? Data suggest otherwise

India Today  

The Covid-19 pandemic severely hit the job market in 2020. The unemployment rate dropped to 6.6 per cent in January 2022, which is lower than the pre-pandemic levels of 7.2 per cent in January 2020. The labour force participation rate fell from 40.9 per cent in December 2021 to 39.9 per cent in January 2022. These two ratios show the …

A likely poor jobs figure for January could prove temporary
2 years, 11 months ago

A likely poor jobs figure for January could prove temporary

LA Times  

Last month, U.S. employers might have shed jobs for the first time in about a year, potentially raising alarms about the economy’s trajectory. Yet even if the January employment report coming Friday were to show a deep loss of jobs, there would be little mystery about the likely culprit: a wave of Omicron cases last month that led millions of …

US unemployment claims drop to new pandemic low
3 years, 2 months ago

US unemployment claims drop to new pandemic low

Live Mint  

The number of Americans applying for unemployment benefits fell to a fresh pandemic low last week, another sign the job market is healing after last year's coronavirus recession. Since topping 900,000 in early January, the weekly applications have fallen more or less steadily ever since and are gradually moving toward prepandemic levels of around 220,000 a week. Overall, 2.1 million …

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

Australia's unemployment rate falls below 5 per cent for the first time in 10 years
3 years, 5 months ago

Australia's unemployment rate falls below 5 per cent for the first time in 10 years

ABC  

With the unemployment rate hitting its lowest level in a decade, you would expect the federal government to be celebrating loudly. Key points: Unemployment rate falls to 4.9 per cent, from 5.1 per cent It's the lowest unemployment rate in a decade The lockdowns in New South Wales will impact the jobs data in coming months But Prime Minister Scott …

Unemployment is back near pre-pandemic levels. A CBA economist says missing foreign workers are one reason why
3 years, 6 months ago

Unemployment is back near pre-pandemic levels. A CBA economist says missing foreign workers are one reason why

ABC  

We know employment in Australia has rebounded strongly from the recession. He says the monthly labour force data is excluding a vital element of Australia's labour force: foreign workers who've been working in Australia for less than 12 months. He says short-term foreign workers, as a share of total workers, has been fairly stable for the last 20 years, sitting …

Unemployment rate still falling as COVID economic recovery continues
3 years, 8 months ago

Unemployment rate still falling as COVID economic recovery continues

ABC  

Australia's unemployment rate has continued to fall, and it is women leading the jobs recovery. Key points: The unemployment rate fell from 5.8pc in February to 5.6pc in March Unemployment is now just 0.4 of a percentage point higher than it was before the COVID-19 pandemic was declared These ABS numbers relate to employment over the first two weeks of …

One year into the pandemic, America is still down nearly 10 million jobs
3 years, 10 months ago

One year into the pandemic, America is still down nearly 10 million jobs

CNN  

New York CNN Business — The American job market is nowhere near fixed. Nearly one year into the pandemic, the nation is still down nearly 10 million jobs. Continued benefit claims, which count applications submitted for at least two weeks in a row, stood at 4.3 million in the week ended February 20, down from the week before. To be …

Unemployment and underemployment fall as COVID recovery continues
3 years, 10 months ago

Unemployment and underemployment fall as COVID recovery continues

ABC  

Both unemployment and underemployment have continued their downward trends in further positive signs that Australia's economy is bouncing back quickly from COVID-19. Key points: Employment rose for the fourth consecutive month, leaving unemployment lower at 6.4 per cent Underemployment fell and is now below pre-pandemic levels at 8.1 per cent Victoria led the jobs recovery, and now has a smaller …

US jobless claims drop; still at 847,000 as pandemic rages
3 years, 11 months ago

US jobless claims drop; still at 847,000 as pandemic rages

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Thanks …

Pandemic Pricetag: U.S. Employers Cut 140,000 Jobs In December
4 years ago

Pandemic Pricetag: U.S. Employers Cut 140,000 Jobs In December

NPR  

Employers Cut 140,000 Jobs In December Enlarge this image toggle caption Olivier Douliery/AFP via Getty Images Olivier Douliery/AFP via Getty Images U.S. employers cut 140,000 jobs in December as the runaway coronavirus pandemic continued to weigh on the U.S. labor market. "The restrictions that we've seen from both governments as well as just the voluntary restrictions where people have been …

751,000 seek US jobless benefits as virus hobbles economy
4 years, 2 months ago

751,000 seek US jobless benefits as virus hobbles economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The number of Americans seeking …

Jobs for workers under 20 are on the up. But they're shrinking for every other age group
4 years, 2 months ago

Jobs for workers under 20 are on the up. But they're shrinking for every other age group

ABC  

The number of payroll jobs for Australians aged under 20 is rising above pre-coronavirus levels, but jobs for every other age group are on the decline. Key points: Experts say the data indicates businesses are preferring to hire younger workers at this stage in the recession The economic recovery from coronavirus is expected to be slow as recessionary conditions broaden …

Unemployment rate falls but job seekers say finding work is still 'really hard'
4 years, 3 months ago

Unemployment rate falls but job seekers say finding work is still 'really hard'

ABC  

Australia's unemployment rate is falling, but those without work say it is not getting any easier to find a job, especially in locked-down Victoria. Key points: The official ABS unemployment rate has fallen from 7.5 per cent in July to 6.8 per cent in August The percentage of underemployed people, who wanted to work more hours than they did, remained …

Coronavirus: Nearly 700,000 job losses during pandemic, new government data shows
4 years, 3 months ago

Coronavirus: Nearly 700,000 job losses during pandemic, new government data shows

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Weekly figures, which are volatile, show that unemployment rose …

Australia's coronavirus recession might soon be over, but the economic road back to full recovery will take years
4 years, 4 months ago

Australia's coronavirus recession might soon be over, but the economic road back to full recovery will take years

ABC  

And now for the good news. The long road to jobs recovery The last official recession we endured, back in 1991, appears as a tiny aberration in the economic growth story. But he's also stuck to his guns on the traditional supply-side measures, repeatedly hinting the October 6 budget may bring forward $158 billion in personal income tax cuts. Last …

AP Explains: 5 key takeaways from the August jobs report
4 years, 4 months ago

AP Explains: 5 key takeaways from the August jobs report

Associated Press  

WASHINGTON — By some measures, the shrunken U.S. job market continued a solid recovery last month, with many employers recalling workers who had been temporarily laid off when the coronavirus erupted in the spring. Here are five takeaways from the August jobs report: THERE’S STILL A LONG WAY TO GO As the pandemic slammed the United States in March and …

US unemployment rate falls to 8.4% even as hiring slows
4 years, 4 months ago

US unemployment rate falls to 8.4% even as hiring slows

Hindustan Times  

The US unemployment rate fell sharply in August to 8.4% from 10.2% even as hiring slowed, with employers adding the fewest jobs since the pandemic began. A report from the Labor Department added to evidence that nearly six months after the coronavirus paralyzed the country, the economy is mounting only a fitful recovery. Employers added 1.4 million jobs, the Labor …

Australia records its deadliest day of coronavirus pandemic
4 years, 4 months ago

Australia records its deadliest day of coronavirus pandemic

India Today  

Australia recorded its deadliest day of the pandemic Monday as the government urged hot spot Victoria state to announce its plans to lift a lockdown on the country's second-largest city. While the deaths were a state and national high, the tally of new infections was Victoria's lowest since 67 new cases were recorded on June 30 in the early weeks …

Victorian jobs slump amid stage 4 coronavirus lockdown, but 'COVID recession' bites elsewhere
4 years, 4 months ago

Victorian jobs slump amid stage 4 coronavirus lockdown, but 'COVID recession' bites elsewhere

ABC  

Paula Evans, owner of boutique Tierra Alma in beachside Mordialloc, didn't need the Australian Bureau of Statistics to tell her about the epic economic pain of Melbourne's August lockdown. Key points: Payroll jobs fell 1 per cent around the nation, but 2.8 per cent in Victoria, in the month to August 8 Melbourne entered tough stage 4 coronavirus restrictions on …

Coronavirus | U.K. employment falls by biggest quarterly amount since 2009
4 years, 4 months ago

Coronavirus | U.K. employment falls by biggest quarterly amount since 2009

The Hindu  

The number of people in employment in the U.K. fell by 2,20,000 in the three months after the country was put into lockdown as a result of the coronavirus pandemic, official figures showed on Tuesday. That quarterly decline, which took the total number of people in employment to 32.92 million, is the biggest since the deep recession in 2009 in …

Coronavirus: UK job losses hit decade-high, worse seen ahead
4 years, 4 months ago

Coronavirus: UK job losses hit decade-high, worse seen ahead

India Today  

The number of people in work in Britain has suffered the biggest drop since 2009 and signs are growing that the coronavirus will take a heavier toll on the labour market as the government winds down its huge job-protection scheme. Mounting job losses are expected as Britain winds down its job-retention scheme, which has covered around one in three private-sector …

The three jobs that WILL get you hired in the coronavirus era - and some of them pay VERY well
4 years, 5 months ago

The three jobs that WILL get you hired in the coronavirus era - and some of them pay VERY well

Daily Mail  

As most industries suffer through the coronavirus lockdown and unemployment soars, there are three areas of expertise which are becoming increasingly attractive in the job market. The data showed there was a 25 per cent increase in the number of freelancing jobs posted between the first and second quarter of 2020, rising from 482,000 to 605,000 nationally. Freelancer.com CEO and …

Recessions punish our youth and the coronavirus downturn is no different
4 years, 5 months ago

Recessions punish our youth and the coronavirus downturn is no different

ABC  

What exactly is a recession? While economic growth bounced back relatively quickly, it took years — decades even — for the jobs market to recover, to finally return to the level it was before the recession hit. While we could see a small lift when the latest jobs numbers land this Thursday, all the indications are that — despite the …

Victoria's coronavirus lockdown won't help an economy that's being held hostage by a pandemic
4 years, 6 months ago

Victoria's coronavirus lockdown won't help an economy that's being held hostage by a pandemic

ABC  

The fate of the economy, at least as far as the eye can see, has been resting on how well the authorities can control the spread of coronavirus. He says the current unemployment rate is actually more like 11.5 per cent, despite Australian Bureau of Statistics figures showing the "headline" rate is a fraction over 7 per cent. "I think …

Victorian economy hardest hit by coronavirus fallout as immigration dries up
4 years, 6 months ago

Victorian economy hardest hit by coronavirus fallout as immigration dries up

ABC  

Australia's second-most populous state was poised to take the biggest economic hit from the COVID-19 pandemic even before a dramatic spike in cases over the past fortnight forced renewed shutdowns in large parts of Melbourne. Key points: Victoria's gross state product is expected to fall 1.6pc in 2020-21 The state is vulnerable due to its reliance on immigration from overseas …

Coronavirus pandemic job losses from major Australian employers
4 years, 6 months ago

Coronavirus pandemic job losses from major Australian employers

ABC  

Every week there seem to be more companies announcing job losses, as the coronavirus pandemic, lockdown and resulting economic downturn continues to bite hard. Qantas Last week, Qantas announced it would permanently cut more than 6,000 jobs from the company as a result of the financial crisis brought on by the coronavirus pandemic. Finance PwC The big four professional services …

Those most likely to lose their jobs in Covid-19 crisis also have little to no savings
4 years, 6 months ago

Those most likely to lose their jobs in Covid-19 crisis also have little to no savings

NL Times  

The people who are most likely to lose their jobs during the coronavirus crisis also often have little to no other income or savings to fall back on, central planning office CPB warned in a study into the most vulnerable groups on the labor market during this crisis. According to the CPB, those most likely to lose their jobs are …

Coronavirus Outbreak Updates: Delhi govt says reports on shortage of beds 'misleading'; National Capital records 1,330 new COVID-19 cases today
4 years, 7 months ago

Coronavirus Outbreak Updates: Delhi govt says reports on shortage of beds 'misleading'; National Capital records 1,330 new COVID-19 cases today

Firstpost  

11:42 PM Whatsapp Facebook Twitter Coronavirus in US Latest Updates US unemployment drops unexpectedly to a still-high 13.3% US unemployment dropped unexpectedly in May to 13.3% as reopened businesses began recalling millions of workers faster than economists had predicted, triggering a rally Friday on Wall Street and giving President Donald Trump something to boast about amid his reelection bid. And …

US unemployment rate seen near 20% as Covid slams jobs market again in May
4 years, 7 months ago

US unemployment rate seen near 20% as Covid slams jobs market again in May

Hindustan Times  

The US unemployment rate likely shot up to almost 20% in May, a new post World War Two record, with millions more losing their jobs, exposing the horrific human toll from the Covid-19 crisis. The Labor Department’s closely watched monthly employment report on Friday could bolster economists’ dire predictions that it would take several years to recover from the economic …

The coronavirus recession is like no other — and it risks becoming a chronic problem
4 years, 7 months ago

The coronavirus recession is like no other — and it risks becoming a chronic problem

ABC  

Forget what you know about recessions, this one is very different — and it may be chronic. That's not to say we're about to experience years of economic contraction or "negative growth" as economists like to say, but it's going to remain tough going for many Australians for years. This is the combination of two overbearing forces: an economy built …

Most Australians say JobSeeker coronavirus supplement should not drop as economy recovers, survey suggests
4 years, 7 months ago

Most Australians say JobSeeker coronavirus supplement should not drop as economy recovers, survey suggests

ABC  

Just over one-third of Australians think the JobSeeker allowance should be lowered as the economy improves, new data suggests, despite the payment being due to halve in September. Key points: The JobSeeker rate is due to be reduced to $550 a fortnight in September unless the Government intervenes The JobSeeker rate is due to be reduced to $550 a fortnight …

Discover Related