Roy Morgan unemployment is out today and shows another steady decline from its recent cyclical peak:
Unemployment was 9.3% (down 0.4% since February 2012) — an estimated 1,120,000 Australians were unemployed and looking for work.
A further 7.9% (unchanged) of the workforce were working part-time looking for more work (underemployed) — 959,000 Australians.
In total 17.2% (down 0.3%) of the workforce, or 2.08 million Australians, were unemployed or underemployed.
The Australian workforce in February was at 12,093,000, (down from 12,228,000 in February, 2012 but up 429,000 since March 2011) — comprising 7,890,000 full-time workers (down 60,000 since March 2011); 4,203,000 part-time workers (up 489,000 since March 2011) and 1,120,000 looking for work (up 257,000 since March 2011).
The latest Roy Morgan unemployment estimate of 9.3% is now 4.1% above the 5.2% currently quoted by the ABS for February 2012.
Still an historic divergence from the ABS figure.
