Unemployment rate falls to 13-year low as thousands drop out of jobs market

16/09/2021 5:12:00 AM

Australia’s jobless rate has fallen to its lowest level since before the GFC, but it has been achieved by a collapse in the number of people actively looking for employment.

Australia’s jobless rate fell to 4.5 per cent in August, driven down by a mass exodus from the jobs market and hundreds of thousands of people working zero hours | swrighteconomy

Australia’s jobless rate has fallen to its lowest level since before the GFC, but it has been achieved by a collapse in the number of people actively looking for employment.

AdvertisementThe nation’s jobless rate has fallen to a 13-year low but it’s been caused by a collapse in people looking for work.But as the jobless rate fell, the number of people actually in work fell by 146,300 while the participation rate – which measures those with a job or looking for one – tumbled by 0.8 percentage points.

LoadingElsewhere, unemployment increased in Queensland by 0.1 percentage point to 5.3 per cent, by 0.3 percentage points in South Australia to 5 per cent, by 0.9 percentage points in Tasmania to 5.5 per cent while it was flat in WA at 4.6 per cent.The bureau reported that across the country, 248,900 people worked zero hours for economic reasons, a 68,400 increase on July and the highest number since May 2020.

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swrighteconomy CapitalismFails swrighteconomy economists pretend capitalism is not based on theft & war & lies. swrighteconomy Total hours worked dropped 3.7% in one month. That is a very different picture to that reported. It is so easy to fool journalists that a bad story is a good one because journalists are so bad with numbers.

swrighteconomy A bad metric watered down to the point of utter pointlessness by how we class employment.

Low vaccination rates in security staff cast shadow over summer of sportMelbourne’s summer of sport is grappling with alarmingly low security guard vaccination rates, prompting concern from Australian Open organisers as the Andrews government discusses mandatory COVID-19 shots for major event workers. | paulsakkal ... paulsakkal Like this is the biggest problem facing melbourne major events. paulsakkal How’s this going to work at hospitality venues in general? Can I ask the security for their proof before showing mine? paulsakkal Security guards in Melbourne are overwhelmingly younger males from the northern suburbs. Their access to vaccination has so far been limited. Vaccination rates will inevitably rise as the access improves. This is a space filler of an article.

New Zealand still pursuing COVID-19 elimination as new case tally dips to 15 casesNew Zealand has reported 15 new community cases of COVID-19, a decrease from 33 reported the previous day. The drop has encouraged health officials, who maintain the Delta outbreak can be eliminated. Oh they choose to keep going with the unsustainable strategy. Way to go NZ !! billbowtell Of course it can be done, China has done it multiple times.

OECD calls on Australia to raise GST and unemployment benefitsThe federal government is urged to embark on major tax reform to help us pay down massive debt from the COVID crisis, and do more to combat global warming by using low emissions technologies. Increase GST Remove GST Input Credits Gee, here's a thought. Instead of making mid & lower wage earners pay (as always) via a GST rise, why not tax companies who get away with paying little or no tax? Why not tax 'religious' entities who pay no tax? Yeah, it was just a thought... What politicians have taken a pay cut in support? NONE! LOL

ACT records 13 new cases of COVID-19, with eight infectious in the communityThe ACT records 13 new cases of COVID-19, as the territory braces for another month of lockdown. Open schools.

The new iPhone’s coolest new featuresApple has unveiled its latest product range, announcing the iPhone 13, Apple Watch Series 7, a new iPad and an improved iPad Mini. Yes it is excellent

The ACT records 13 coronavirus cases during first day under new lockdownChief Minister says vaccine passports "won&x27;t be required" when restrictions ease in mid-October and businesses open back up.

to save articles for later.Advertisement Melbourne’s summer of sport is grappling with alarmingly low security guard vaccination rates, prompting concern from Australian Open organisers as the Andrews government discusses mandatory COVID-19 shots for major event workers.New Zealand Prime Minister Jacinda Ardern.Print with images and other media Print text only Print Cancel The federal government has been urged to embark on major tax reform, including increasing the goods and services tax to help pay down massive debt from coronavirus relief measures, which were introduced to save the economy from the pandemic.

Normal text size Very large text size Advertisement Australia’s jobless rate fell in August to its lowest level since before the global financial crisis, driven down by a mass exodus from the jobs market and hundreds of thousands of people working zero hours. The Australian Bureau of Statistics on Thursday reported the jobless rate fell by 0. Only about 10 per cent of MSS security workers have been vaccinated, a staff survey shows.1 percentage points to 4. Read More Director-General of Health Ashley Bloomfield said the new cases had all already been linked to the latest outbreak.5 per cent last month. This could trigger an immediate easing of some lockdown restrictions. It is the lowest jobless rate since November 2008. "The current strict lockdowns in these states will result in GDP declining in the third quarter of 2021," it said.

The nation’s jobless rate has fallen to a 13-year low but it’s been caused by a collapse in people looking for work. More than 2000 police will patrol the CBD in what Mr Patton called “the biggest game in town”. As of Tuesday, 22 Kiwis are in hospital, with four in intensive care. Credit: Kate Geraghty But as the jobless rate fell, the number of people actually in work fell by 146,300 while the participation rate – which measures those with a job or looking for one – tumbled by 0.8 percentage points. Many security guards are younger men on temporary visas, and the Ethnic Communities Council of Victoria believes many of those from a non-English-speaking background were unaware they could get jabbed for free like Australian citizens. The nation’s underemployment rate increased by a full percentage point to 9. "The theme over the last few days has been vaccinate, vaccinate, vaccinate," she said.3 per cent while the number of hours worked collapsed by 66 million. Credit: MSS has encouraged vaccination by offering workers $100 gift cards. Treasurer says no to GST rise The Federal Treasurer pushed back on the OECD's recommendation that Australia widen the GST base.

Across NSW, which was in lockdown across the entire month, unemployment lifted by 0.4 percentage points to 4. Sports and Major Events Minister Martin Pakula said he was in talks with venues about mandating vaccines for public-facing staff..9 per cent. But the total number of people working in the state fell by 172,800, the underemployment rate increased to 10. Advertisement “More generally, we’re working with the Commonwealth on how a vaccine certificate could operate.2 per cent while the participation rate dropped by 2. The rest of the country is at Level 2 COVID-19 restrictions with minor limits on movement. The Federal Treasurer said he would consider a review of the Reserve Bank of Australia, after the OECD report said it failed to meet key economic targets and forecasts in recent years.

4 percentage points.” Vaccinating guards is made difficult because many large security companies subcontract to smaller labour supply firms to provide the staff, meaning the parent company often has minimal relationship with the guards who wear its uniform. Loading Total hours worked across the state fell by 6.5 per cent. “Getting events back – not just footy, cricket and tennis, but also for music and other things – will rely on running them safely,” the source said, adding wage costs could increase if the pool of workers shrank because some people refused a vaccine. In Victoria, which went into lockdown during the month, the official unemployment rate fell to an all-time record low of 4.1 per cent while its underemployment rate increased to 9.” Public debate on mandatory vaccines across society has escalated in recent weeks. It said there was a "decline in environmental innovation over the past decade" and it called for stronger incentives for innovation and adoption of new "low emission technologies".

1 per cent. Hours worked in Victoria fell by 3.4 per cent. Elsewhere, unemployment increased in Queensland by 0.1 percentage point to 5.

3 per cent, by 0.3 percentage points in South Australia to 5 per cent, by 0.9 percentage points in Tasmania to 5.5 per cent while it was flat in WA at 4.6 per cent.

Advertisement Unemployment fell in both the Northern Territory to 3.4 per cent and in the ACT to 3.5 per cent. The bureau reported that across the country, 248,900 people worked zero hours for economic reasons, a 68,400 increase on July and the highest number since May 2020. Loading Another 371,300 people reported zero working hours for “other reasons”, which was a 164,500 lift on July.

This does not include people on annual leave. The head of labour statistics at the bureau, Bjorn Jarvis, said the jobs survey covered the first two weeks of August which included the NSW lockdown and the new lockdowns put in place in Victoria, Queensland and the ACT. “The fall in the unemployment rate reflects a large fall in participation during the recent lockdowns, rather than a strengthening in labour market conditions,” he said. “Throughout the pandemic we have seen large falls in participation during lockdowns — a pattern repeated over the past few months. “Beyond people losing their jobs, we have seen unemployed people drop out of the labour force, given how difficult it is to actively look for work and be available for work during lockdowns.

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