Our latest pre Budget profile on unemployment to March 2011shows that about half of last year’s school leavers, who would normally be chasing jobs in February 2011, were sufficiently concerned at missing out on a job that they had hit the employment market the previous October and November.
But the full seasonal downward adjustment of about 0.6 percent in February was applied to these school leavers who had found jobs four months earlier, and hence the current seasonal figures look somewhat rosier than they really are, especially for low to middle income earners.
Motivating these low to middle income earners is the fact that unemployment for these families is now just under 6 percent, about what it was during the worst of the recent downturn in early 2009.
Middle income families in particular have been squeezed over the past three and a half years, with their unemployment rising from 4.4 percent in November 2007 to 5.8 percent in March, wiping out the advantages middle class families normally get from a better education and more secure job.
Full Job Report – Australian Job Profile – Feb / March 2011
|Disclaimer: The Labour Market reports and associated maps have been prepared as an educational and public relations exercise and have not been designed as an advisory tool for business and we take no responsibility for those who use either of them for these purposes. The sampling errors for smaller Labour Force regions are often large and the raw figures used cannot be easily adjusted for seasonal trends. The statistical significance of the profiles also need to be considered. We repeat, caution is urged in any interpretation of these statistics. We acknowledge and thank the Australian Bureau of Statistics for the provision of original data, Dr Otto Helwig of MDS for the HES micro simulation modelling and Phil Henry of Business Geographics for the mapping.|