June figures from Roy Morgan’s employment series data have revealed 1.39 million Australians were without a job throughout the month, dropping the overall unemployment figures to 9.4 per cent. Meanwhile, under-employment remained largely unchanged at 8.5 per cent the same month.
Breaking down the figures, Roy Morgan noted a “record high” of 13.36 million workers were employed in June. Of this, 8.8 million have retained full-time work.
“Roy Morgan’s unemployment figure of 9.4 per cent for June is more than 4 percentage points higher than the current ABS estimate for May 2021 of 5.1 per cent,” the research group noted.
“However, the ABS figure for May counts as employed an additional 58,000 Australians who were working zero hours for ‘economic reasons’. If these non-workers are added back, the ABS unemployment estimate for May increases to 759,000 (5.5 per cent). The ABS also claims there are nearly 1.03 million Australians (7.4 per cent) under-employed, for a total of almost 1.8 million unemployed or under-employed (12.9 per cent of the workforce).”
In total, Roy Morgan research found 2.65 million Australians, or 17.9 per cent of the workforce, were either unemployed or under-employed in June. This represents a drop of 98,000 on May, with the decrease driven by the fall in unemployment.
Commenting off the back of the research, Michele Levine, CEO Roy Morgan, noted the employment trends prior to the recent lockdowns in various states were tracking favourably.
“The latest Roy Morgan employment estimates for June show unemployment down 0.9 [of a percentage point] to 9.4 per cent while under-employment was virtually unchanged at 8.5 per cent. This means a total of 2.65 million Australians (17.9 per cent of the workforce) were either unemployed or under-employed in June, the lowest monthly figure since February 2020 (2.44 million, 17.3 per cent of the workforce).
“Roy Morgan’s June employment estimates were compiled from interviewing, conducted largely before the most recent series of lockdowns in New South Wales, Queensland, Western Australia and the Northern Territory began in the last few days of last month.
“Before these lockdowns, the employment trends were very good, with employment increasing 305,000 to a record high of 13.37 million in June. Both full-time and part-time employment increased in June and full-time employment was up for a record eighth straight month by 147,000 to 8,826,000.”
Ms Levine added that “since bottoming in late March 2020, when the nationwide lockdown was introduced, full-time employment has now increased by over 1 million and has increased every month since October when Victoria’s long second lockdown ended”.
“Speaking of Victorian lockdowns, the recent two-week lockdown in Victoria has had a negligible impact on employment levels in Victoria, and although unemployment in Melbourne did increase slightly in June, the state still has unemployment below the national average,” she said.
“The experience of Victoria suggests that the support measures introduced by the federal government of paying up to $500 to workers forced out of their jobs due to lockdowns have proved effective in terms of the recent lockdown in Victoria.”