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Tag Archives: Labour Force

Latest Australian payroll data suggests employment damage from shutdown is worse than thought

The evidence that is mounting is allowing researchers to better assess the damage that is emerging from the way in which we are dealing with the coronavirus. One of the important questions that will determine the future trajectory of our economy relates to how many workplaces have disappeared altogether as a result of the businesses disappearing forever as a result of the flow-on impacts of the compulsory lockdown. Last week (July 14, 2020), the Australian Bureau of Statistics released their...

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Australia labour market – one step forward up a gigantic mountain

The Australian labour market recovered somewhat as the governments eased the lockdown restrictions in the service sector. The latest data from the Australian Bureau of Statistics – Labour Force, Australia, June 2020 – released today (June 18, 2020) shows that employment rose by 1.7 per cent. However, participation also rose as job opportunities increased, and the labour force change outstripped the employment increase, which meant that unemployment rose by 69,300 thousand. The...

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How hard is it for the government to create some jobs?

The – Report of the Special Rapporteur on extreme poverty and human rights – for the UN was released this week (July 7, 2020). It was Philip Alston’s last report in that role. It is a shocking indictment of the way neoliberalism has distorted our societies and the way the governments with the capacity to ‘move mountains should they wish’ have been co-opted as agents of capital and perpetuate those distortions. The Report is 19 pages of horror. It also resonates...

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US labour market reverses direction but for how long?

On July 2, 2020, the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – June 2020 – which shows that the US labour market response to the relaxation of lockdown controls gained pace in due, although the question that remains is how long can the governors of the states allow the relaxation to continue given the alarming spread of disease. Already, nations such as Spain are returning to lockdown as their hospital...

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Australian labour force data – labour underutilisation rate rises to 25.1 per cent

Whatever way you want to interpret it, the Australian labour market continued to deteriorate in May 2020. The latest data from the Australian Bureau of Statistics – Labour Force, Australia, May 2020 – released today (June 18, 2020) continues to tell a shocking tale. All the main aggregates moved in an adverse direction. Employment fell by 1.8 per cent (227,700). Unemployment rose by 86,700 thousand. But that is a gross understatement of the problem given that the participation...

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Worst is over for Australian workers but a long tail of woe is likely due to policy failure

Today (June 16, 2020), the Australian Bureau of Statistics released their latest weekly employment data taken from Australian Tax Office data. They have slowed the release cycle on this data (for reasons they have not disclosed), so it is a month since I have analysed it. The latest edition came out today – Weekly Payroll Jobs and Wages in Australia, Week ending 30 May 2020 – which covers the new data from May 2, 2020 to May 30, 2020. The monthly labour force data to be released...

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US Labour Market – cheering but it is too early to break out the champagne

On June 5, 2020, the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – May 2020 – which shows that the US labour market has responded to the relaxation of lockdown controls in a modest way. I cannot believe that in Donald Trump’s words the US is “largely through” the Pandemic and it remains to be seen whether lockdown rules will have to be reintroduced when the infections rise again. But, for the...

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The job losses continue in Australia but at a slower pace

One bit of good news yesterday was that the Supercars event that has been imposed on the City of Newcastle over the last 3 years will not go ahead this year. This is an event that has massive state subsidies, creates health hazards for local residents, lies about crowd numbers to justify further state subsidies and severely divides the local community. They claim they love Newcastle, but with only a few events possible this year, they are clearly going where the highest subsidies are likely....

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US labour market in peril as a result of political choices made by the US government

I went on a data excursion for part of today to update the flows data from the US Bureau of Labor Statistics. They published the latest JOLTs data last Friday (May 15, 2020) – Job Openings and Labor Turnover Summary – which reveals data up to March 2020. So in a sense it is the calm before the storm. I also reconstructed some of the indicators I compile from that data set which give me a broader impression of what is happening in the US labour market. Clearly, things are going to get worse...

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Australian labour force data – underutilisation rate rises to 23.4 per cent

Whatever way you want to interpret it, the Australian labour market fell off a very steep cliff in the four weeks from around March 12 to April 12. The latest data from the Australian Bureau of Statistics – Labour Force, Australia, April 2020 – released today (May 14, 2020) is shocking. Like all the data releases at the moment. All the main aggregates moved in extremely adverse directions. Employment fell by 4.6 per cent (594,300 thousand). Unemployment rose by 104,500 thousand....

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