Unemployment rises to 5.2 per cent in March but full impact of coronavirus yet to show
4 years, 9 months ago

Unemployment rises to 5.2 per cent in March but full impact of coronavirus yet to show

ABC  

The unemployment rate has risen to just 5.2 per cent in March, up from 5.1 per cent in February, and well below economists' expectations of a jump to 5.4 per cent. Key points: The Australian Bureau of Statistics labour force data does not reflect the full impact of business shutdowns due to the coronavirus pandemic Economists say the headline unemployment rate reported by the ABS may understate the actual numbers of Australians out of work Most economists believe that by mid-year the jobless rate will hit 12 per cent The Australian Bureau of Statistics data does not reflect the full impact of the shutdowns because of the COVID-19 pandemic. Capital Economics senior economist Marcel Thieliant said Australia's employment rate would surge to 12 per cent in the coming months. NAB's Kaixin Owyong the jobs figures would "deteriorate sharply in April where we expect a large rise in unemployment, which we forecast to reach 11.75 per cent by mid-year". "Here there are already signs of the coronavirus pandemic having an impact; employment in March was 1.8 per cent higher than a year ago, but total hours worked was just 0.8 per cent higher," she said.

Coronavirus Data Impact Labour Jobs Unemployment Treasury Cent Rate Hours Rise Jobkeeper Full Impact Mr Leithner  cent  jobs  rise  labour  rate  hours  data  impact  coronavirus  unemployment  52  rises

History of this topic

US unemployment claims hit 8-month low as consistent environment prevails job market
1 week, 6 days ago

US unemployment claims hit 8-month low as consistent environment prevails job market

Live Mint  

United States unemployment applications hit an eight-month low, reflecting the lower level of job cuts in the labour market, reported the news agency Bloomberg on Thursday, January 2. The continuing applications data, which represents a proxy for the number of people receiving benefits, also dropped to a three-month low of 1.84 million in the week ended December 21, 2024, reported …

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

U.S. job growth bounces back in November, a reassuring sign that the labor market remains healthy
1 month, 1 week ago

U.S. job growth bounces back in November, a reassuring sign that the labor market remains healthy

LA Times  

Job growth rebounded in November from the weather-related stall in hiring the previous month, fresh evidence that the U.S. labor market remains healthy despite signs of a slowing economy overall, according to new government data released Friday. Friday’s report showed that employers nationwide added 227,000 jobs in November, led by big gains in healthcare and leisure and hospitality. November’s overall …

As unemployment rises, Labour looks set to crash into a jobs problem. How will it respond?
2 months ago

As unemployment rises, Labour looks set to crash into a jobs problem. How will it respond?

The Independent  

Is Labour hurtling towards a jobs problem? The rate of unemployment among people aged 16 and above rose to 4.3 per cent over the July to September reporting period. Wage rises have certainly continued to moderate; earnings excluding bonuses grew 4.8 per cent in the year to July to Sept 2024, the lowest since Apr to June 2022, when the …

Unemployment in the UK rises to 4.3% and earnings fall to 4.8%
Trending News
2 months ago

Unemployment in the UK rises to 4.3% and earnings fall to 4.8%

Daily Mail  

Wage growth has fallen to its lowest level in more than two years while Britain's jobless rate jumped by more than expected, according to official figures. The Office for National Statistics said average regular earnings growth eased back to 4.8 per cent in the three months to September, down from 4.9 per cent in the previous three months. Earnings growth …

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

Economic recession fears grow after bleak jobs report and unemployment spike
5 months, 1 week ago

Economic recession fears grow after bleak jobs report and unemployment spike

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. “With across-the-board cooling, we have lost most of …

With 114,000 new jobs in July, hiring slows down in US. Unemployment rate at 4.3%
5 months, 1 week ago

With 114,000 new jobs in July, hiring slows down in US. Unemployment rate at 4.3%

Firstpost  

US hiring slowed sharply in July, adding only 114,000 jobs well below the forecasted 175,000, causing the unemployment rate to rise to 4.3%, the highest since October 2021. The unemployment rate unexpectedly surged to 4.3%, its highest level since October 2021, contrary to expectations of it remaining steady at 4.1%. Many economists believe that today’s rising unemployment rates reveal an …

Unemployment rises again in July, reviving worries of a recession
5 months, 2 weeks ago

Unemployment rises again in July, reviving worries of a recession

LA Times  

People visit the California Employment Development Department office in Sacramento. U.S. job growth slowed sharply last month and the unemployment rate rose to a nearly three-year high of 4.3%, the latest sign of a cooling labor market, the government reported Friday. Employers added 114,000 jobs in July, well below economists’ projections and down from an average monthly gain of 215,000 …

Economists warn unemployment rate could rise above 5 per cent, with hundreds of applications for individual jobs
5 months, 3 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, 4 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
7 months 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 …

Canada Unemployment Rises But Wages Spur Caution on July Cut
7 months, 1 week ago

Canada Unemployment Rises But Wages Spur Caution on July Cut

Live Mint  

-- Canada’s unemployment rate rose for the third time in four months, but rising wages and a strong US labor report prompted some economists to express caution on the pace of Bank of Canada rate cuts. “We expect that will lead to a gradual pace of interest rate reductions this year, with the Bank of Canada likely to cut at …

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

Unemployment rises again, taking shine off UK’s emergence from recession
8 months ago

Unemployment rises again, taking shine off UK’s emergence from recession

The Independent  

After all the excited chatter about Britain’s recovery from shallow recession, we’re back to earth with a bump. It is true that private sector pay rises declined a little, to 5.9 per cent, but the ONS cited an early estimate for April of 6.9 per cent pay growth – thanks in no small part to the scheduled increase in the …

Jobless rate rises to highest for nearly a year, figures show
8 months ago

Jobless rate rises to highest for nearly a year, figures show

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. “At the same time the steady decline in the …

What's the unemployment rate in your region? This data tells you
8 months, 1 week ago

What's the unemployment rate in your region? This data tells you

ABC  

Do you feel like the unemployment rate doesn't reflect the reality of where you're living? "This new data will provide regions across Australia with a much better indication of the state of their labour market and how it’s changing over time," he said. "Regional labour market information is some of the most sought-after information the ABS produces, so it's exciting …

Jobs market 'incredibly tight' despite rise in unemployment
8 months, 4 weeks ago

Jobs market 'incredibly tight' despite rise in unemployment

ABC  

Australia's headline unemployment rate increased slightly to 3.8 per cent in March, after employment fell by 7,000 people and unemployment rose by 21,000 people. "Despite a small drop in employment, Australia's labour market remains incredibly tight," said Callam Pickering, APAC senior economist at global job site Indeed. "The easing in the labour market since late 2022 is most evident in …

Unemployment rate hits six-month high amid fears of a stalling economy
8 months, 4 weeks ago

Unemployment rate hits six-month high amid fears of a stalling economy

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Britain’s unemployment rate has risen to its highest level in …

UK unemployment soars to six-month high after economy cools
8 months, 4 weeks ago

UK unemployment soars to six-month high after economy cools

Live Mint  

Britain’s unemployment rate rose unexpectedly to the most in six months as the number of jobs in the economy shrank, an indication of cooling in the once red-hot labor market. “Easing pressure in the labor market keeps the Bank on track for a summer rate cut,” said Yael Selfin, chief economist at KPMG UK. Nevertheless, Tuesday’s report showed a deterioration …

Can Australia pull off the once-impossible with jobs and inflation?
9 months, 3 weeks ago

Can Australia pull off the once-impossible with jobs and inflation?

ABC  

At least, that's the thinking of a growing number of the world's greatest minds as they ponder the thorny subject of chucking people on the unemployment scrap heap. Instead, it's been replaced by the "Non Accelerating Inflation Rate of Unemployment" or the NAIRU, the elusive level of despairing workers that will keep prices in check. Michele Bullock's worst fears were …

Jobs surge sees unemployment rate tumble back to 3.7 per cent
9 months, 3 weeks ago

Jobs surge sees unemployment rate tumble back to 3.7 per cent

ABC  

In short: An additional 116,500 Australians were employed in February, the biggest monthly jobs gain on record, outside of the pandemic period. The unemployment rate has dropped back to 3.7 per cent with more than 116,000 extra Australians in employment last month, compared with January, according to seasonally adjusted data from the Australian Bureau of Statistics. "With employment growing by …

Does the surprise fall in unemployment mean the Albanese government's 'full employment' ambitions are working?
9 months, 3 weeks ago

Does the surprise fall in unemployment mean the Albanese government's 'full employment' ambitions are working?

ABC  

The unemployment rate fell to 3.7 per cent in February, from 4.1 per cent in January. Government releases new definition of 'full employment' Photo shows Federal Treasurer Jim Chalmers speaking to media The federal government releases new a definition of "full employment" to reflect the modern labour market, saying it needs to be conscious of underemployment. The RBA thinks we'll …

Unemployment jumps 'quite sharply', passing 4 per cent with scarcely any jobs added in January
11 months ago

Unemployment jumps 'quite sharply', passing 4 per cent with scarcely any jobs added in January

ABC  

In short: The unemployment rate rose to 4.1 per cent in January, from 3.9 per cent in December. "This was the first time in two years, since January 2022, that the unemployment rate had been above 4 per cent," noted the bureau's head of labour statistics Bjorn Jarvis. Treasurer Jim Chalmers said the rise in the unemployment rate was an …

Weekly US unemployment claims rise slightly but job market remains strong as inflation eases
1 year ago

Weekly US unemployment claims rise slightly but job market remains strong as inflation eases

Associated Press  

WASHINGTON — The number of Americans applying for unemployment benefits rose slightly last week but still remained at historically low levels despite high interest rates intended to slow hiring and cool the economy. The Federal Reserve began raising interest rates last year to combat the inflation that surged as the result of an unexpectedly strong economic rebound from the COVID-19 …

U.S. employers add a solid 199,000 jobs and unemployment falls, signaling a still-sturdy labor market
1 year, 1 month ago

U.S. employers add a solid 199,000 jobs and unemployment falls, signaling a still-sturdy labor market

LA Times  

Mechanic David Stoliaruk works on the engine of a car at IC Auto in Philadelphia on May 2. The nation’s employers added a solid 199,000 jobs last month and the unemployment rate fell, fresh signs that the economy could achieve an elusive “soft landing,” in which inflation would return to the Federal Reserve’s 2% target without causing a steep recession. …

UK wages rise at record rate as unemployment jumps unexpectedly
1 year, 6 months ago

UK wages rise at record rate as unemployment jumps unexpectedly

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Office for National Statistics revealed that average regular pay, not including bonuses, was …

The jobs market is strong for now, but unemployment will be the last indicator of recession
1 year, 6 months ago

The jobs market is strong for now, but unemployment will be the last indicator of recession

ABC  

The latest unemployment numbers had a lot of us scratching our heads — economists, journalists, financial traders, possibly even the statisticians themselves. After more than a year of interest rate rises at the fastest pace in recent history, all while Australians hold more debt than they ever have before, employers added close to 76,000 extra staff pushing unemployment back down …

US hiring jumped last month. So did unemployment. Here’s what that says about the economy
1 year, 7 months ago

US hiring jumped last month. So did unemployment. Here’s what that says about the economy

Associated Press  

WASHINGTON — The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of enduring strength in an economy that the Federal Reserve is desperately trying to cool. The strong, steady job growth of the past several months shows that the economy remains in solid shape despite the Fed’s interest rate hikes, …

The employment tide has turned, and top economists have a stark warning for all workers
1 year, 7 months ago

The employment tide has turned, and top economists have a stark warning for all workers

ABC  

One thing will separate Australians who really struggle later this year from those who won't and economists are trying to get the word out. "With employment dropping by around 4,000 people and the number of unemployed increasing by 18,000 people, the unemployment rate rose to 3.7 per cent," said Bjorn Jarvis, head of labour statistics at the ABS. The investment …

UK jobs market falters as unemployment rate rises and company payrolls shrink
1 year, 7 months ago

UK jobs market falters as unemployment rate rises and company payrolls shrink

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. In another sign of a flagging jobs market, the …

Unemployment steady as jobs boom continues
1 year, 9 months ago

Unemployment steady as jobs boom continues

ABC  

The unemployment rate has remained steady at 3.5 per cent, with the creation of an estimated 53,000 jobs in March increasing the chances of an interest rate rise next month. Key points: Female workforce participation and employment are both at record highs Hours worked edged down and underemployment climbed higher LinkedIn data shows hiring has slowed compared to peak levels …

Employing young people could ease worker shortages, but employers need to make it happen
1 year, 10 months ago

Employing young people could ease worker shortages, but employers need to make it happen

ABC  

Will Parker didn't know what he wanted to do when he finished school. Key points: Youth unemployment is double the rate of the general population Due to their age, young people often lack work experience Employers who look beyond that are being rewarded with a larger pool of potential staff "I had absolutely no idea. "The stronger the labour market …

US adds 311,000 jobs in February, unemployment at 3.6 percent
1 year, 10 months ago

US adds 311,000 jobs in February, unemployment at 3.6 percent

Al Jazeera  

The US economy added jobs at a solid clip in February, likely ensuring that the Federal Reserve will raise interest rates for longer, though wage inflation showed signs of cooling. Nonfarm payrolls increased by 311,000 jobs last month, the labour department’s closely watched employment report showed on Friday. Data this week showed there were 1.9 job openings for every unemployed …

Slight increase in unemployment last month
1 year, 11 months ago

Slight increase in unemployment last month

NL Times  

Last month, 360,000 people in the Netherlands were unemployed. The unemployment rate climbed slightly, from 3.5 percent in December to 3.6 percent in January, and therefore did not continue the minor decrease at the end of last year, Statistics Netherlands reported on Thursday. The number of working people aged 15 to 75 rose by an average of 31,000 per month …

Unemployment rate jumps from 3.5 per cent to 3.7 per cent in January figures
1 year, 11 months ago

Unemployment rate jumps from 3.5 per cent to 3.7 per cent in January figures

ABC  

Australia's unemployment rate has increased from 3.5 per cent to 3.7 per cent according to last month's figures, in seasonally adjusted terms. "January is the most seasonal time of the year in the Australian labour market, with people leaving jobs but also getting ready to start new jobs or return from leave," Mr Jarvis said. David Bassanese, the chief economist …

Australia's economy recovered in 2022, will it crash in 2023?
2 years ago

Australia's economy recovered in 2022, will it crash in 2023?

ABC  

Despite the odds, Australia largely withstood the global economic hurdles of 2022. "I think that's going to be the big story for next year, how much further for rates, how long do they hold and how quickly do we see the pricing dynamics and inflation ultimately being consistent with 2 to 3 per cent. "I think the unemployment rate's going …

Fed raises key rate by half-point and signals more to come
2 years, 1 month ago

Fed raises key rate by half-point and signals more to come

Associated Press  

WASHINGTON — The Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signaling more hikes to come. “But it will take substantially more evidence to give confidence that inflation is on a sustained downward path.” In its updated forecasts, the Fed’s policymakers predicted slower growth and higher unemployment for …

India's unemployment rate dips to 7.2 per cent in second quarter from 9.8
2 years, 1 month ago

India's unemployment rate dips to 7.2 per cent in second quarter from 9.8

India TV News  

India unemployment rate 2022 : The unemployment rate, defined as percentage of unemployed persons in the labour force in the country above the age of 15 years in urban areas eased to 7.2 during the second quarter of 2022-23 from 9.8 in the year-ago period, according to data of National Statistical Office's 16th Periodic Labour Force Survey. The data had …

Deutsche Bank forecasts Australia will enter a recession in 2023, following an expected rise in unemployment
2 years, 2 months ago

Deutsche Bank forecasts Australia will enter a recession in 2023, following an expected rise in unemployment

ABC  

If investment firm Deutsche Bank's forecasts hold true, Australia will enter a recession next year. Key points: Deutsche Bank expects Australia's unemployment rate to rise by one percentage point to 4.5 per cent by the end of 2023 The RBA's unemployment forecast for the end of 2023 is much lower, at 3.7 per cent A one percentage point drop qualifies …

India’s unemployment rate surges to 1-year high of 8.3% in August: CMIE
2 years, 4 months ago

India’s unemployment rate surges to 1-year high of 8.3% in August: CMIE

Live Mint  

India's unemployment rate increased to a one-year high of 8.3 per cent in August as employment sequentially fell by 2 million to 394.6 million, the Centre for Monitoring Indian Economy data said. "The urban unemployment rate is usually higher at about 8 per cent than the rural unemployment rate, which is usually around 7 per cent. In August the urban …

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 falls again to a new low, but the cause of the fall is not good news
2 years, 4 months ago

Unemployment falls again to a new low, but the cause of the fall is not good news

ABC  

The official unemployment rate fell to 3.4 per cent in July from 3.5 per cent the month before. Key points: Unemployment falls from 3.5 per cent in June to 3.4 per cent in July An estimated 40,900 jobs were lost in July, the first fall in employment since October 2021 The fall in the jobless rate was caused by a …

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 …

One unemployed person per vacant job: Has Australia finally hit full employment?
2 years, 5 months ago

One unemployed person per vacant job: Has Australia finally hit full employment?

ABC  

Australia's unemployment rate is 3.5 per cent, and it hasn't been this low since August 1974. But even accounting for those realities, he said full employment would see far more people in jobs than existed in the wasteful inter-war years, when 10 per cent of the workforce was frequently without work. But a few years later, after full employment had …

With inflation rising and talk of a possible recession, Australia's low unemployment rate may not be cause for celebration
2 years, 6 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, 6 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 …

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