AUSTRALIA’S labour market is showing a steep rise in unemployment, with the number of jobless workers rising by nearly 30,000 to nearly 22 million.
The latest labour force survey by the Australian Bureau of Statistics showed that the number unemployed people has risen by an average of 22,000 per week since the first quarter of 2018.
In the last three months of 2018, the unemployment rate has risen to 25.5 per cent.
That’s up from a rate of 24.5 percent in the first three months.
And that’s even with a drop in the overall unemployment rate to 3.5 percentage points below its peak of 7.3 per cent in January 2019.
Labor Force Participation ratesThe ABS report also found that the labour force participation rate has been falling for the last year.
The rate of participation in the labour market fell by 4.2 percentage points from May to June 2018, and has fallen by 4 percentage points since June.
But the decline in the participation rate since then was not entirely as pronounced.
The ABS also reported that the unemployment rates for women and those aged 65 and over have fallen over the last two years.
The numbers of people aged 65 years and over also rose slightly over the same period.
The data also showed that women are far more likely to be unemployed than men.
More on the labour situation in AustraliaABS said the rate of unemployment has remained at around 4.5% since the beginning of the year.
But it said the overall level of unemployment remains unchanged at 7.8 per cent, and that the rate has not been falling since December.
“Despite the increase in unemployment and overall labour market conditions, the labour participation rate is still lower than the rate seen in January 2018, when the unemployment had fallen to 11.3 percent,” it said.
“The participation rate for those aged 55 years and older fell by 0.7 percentage points in the quarter and by 0 (percentage points) in the year.”
The ABS said the proportion of unemployed people fell by 6.6 percentage points over the period.
It said that among the people aged 18 to 64, the number who are unemployed is up by more than 25,000 since the second quarter of this year.
It reported that unemployment among people aged 55 and over is up 9.2 percent over the course of the past year.
Among people aged 15 to 24, the share of people who are out of work increased by 5.5 points.
The report said that the overall rate of employment fell by 7.7 per cent from April to May, and the proportion working has also fallen.
The number of people employed fell by 2.4 percentage points during the period, but the ABS said that in the last quarter of 2019, employment was up by 3.6 points.
“Employment continues to be below its long-run average, as a share of total employment, and is still at a low level relative to the rest of the developed world,” the report said.
The Bureau of Employment Statistics (BEAS) said that employment is down by about 6,700 jobs a week in the June quarter, and it said that for the April to June quarter the unemployment ratio has fallen from 10.4 per cent to 7.2 per cent.
“However, the ABS reported that total employment is still up by 2,300 jobs a day over the past three months, and employment in Australia’s mining sector is up 3,400 jobs a month.”
These increases in employment have been driven by growth in the mining sector, especially in the sector where the unemployment is highest, in particular, in the construction sector,” it reported.