Unemployment graph reveals terrifying truth

April and May saw the number of people participating in the labour force fall off a cliff. Picture: Supplied.Labour force participation matters. If you’re not looking for work, you don’t get counted as unemployed. That makes sense – we don’t aim to count every retired person, full-time student or stay-at-home parent as unemployed. To get counted as unemployed you have to “actively look for work.

Now, this is important: This article does not imply or insinuate a grand conspiracy. It’s normal for labour force participation to fall in bad times. And lower participation always moderates measured unemployment. It’s just that this time it has happened so fast. So to understand the unemployment rate at this peculiar point in history it is vital to know how the numbers are measured.The next chart shows how Australia is divided up. We have an adult population of almost 21 million.

How Australia is divided up. We have an adult population of almost 21 million. Around 13 million of us are in the labour force, and 7.7 million are not.There’s three big reasons people will have dropped out of the labour force. When there aren’t many jobs on offer, people naturally get discouraged from searching. With the virus running rampant, people are naturally nervous about heading to interviews.

Once job keeper stops if borders are not open, there will be a deluge of unemployment. Flower shops that can't get stock, the web designer that services the travel sector, the tourism, hospitality and travel sector, meanwhile tradies that charge $900 to change a plug now $1,200

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