Concerns being raised over increased unemployment in Australia

by Ray Clancy on December 23, 2011

in Jobs in Australia

Figures show decrease in number of people being employed in full time jobs

Australia’s unemployment rate crept up 0.1% to 5.3% in November with new research suggesting 100,000 jobs could be lost in 2012 due to the impact of a new global recession.

Official figures from the Australian Bureau of Statistics (ABS) show that the number of people employed decreased by 6,300 to 11,457,100 in November.

The decrease in employment was driven by a decrease in full time employment, down 39,900 people to 8,026,300 but was offset by an increase in part time employment, up 33,600 people to 3,430,800.

The number of people unemployed increased by 9,400 people to 635,800 in November, reported the ABS. It also said that the monthly aggregate hours worked series showed a decrease in November, down 11.3 million hours to 1,616.8 million hours.

The ABS also reported a decrease in the labour force participation rate of 0.1% in November to 65.5% the labour force underutilisation rate was 12.6% in November, up 0.2% from August.

Meanwhile, research firm CoreData has suggested the number of unemployed people in Australia will jump by nearly 106,000 next year, assuming the labour force grows at its current rate and the unemployment rate rose to 5.75% as predicted.

CoreData boss Andrew Inwood said the unemployment problem would be felt nationwide.

‘One in five Australians now think they are going to lose their jobs in the next 12 months,’ he said.

‘It is likely to affect all industries outside finance and mining. But it is not all doom and gloom. Interestingly, our research has found levels of Australian confidence in the economy for the first quarter of 2012 is looking to be roughly the same as it was at the height of the global financial crisis,’ explained Inwood.

Richard Deniss, executive director of The Australia Institute, a Canberra based public policy think tank, also believes there will be mass job losses in 2012, especially the retail industry.

‘The tourism industry and retail sector are being hit very hard by the high dollar and, while mining is booming, it doesn’t employ too many people. The problem is retail doesn’t make a lot of money but employs a lot of people,’ he explained.

Deniss also believes that a massive coal mine planned for central Queensland will harm the economy and lead to a loss of jobs outside the mining sector.

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