News and Reviews
Australian Unemployment Drops to 8.6% in November as Employment Reaches Record High

Australian Unemployment Drops to 8.6% in November as Employment Reaches Record High
By Ian Rogers
In November 2024, Australia’s “real” unemployment rate fell to 8.6% as 183,000 new jobs were created, according to the latest estimates from Roy Morgan. This represents a decrease of 88,000 unemployed individuals from October, bringing the total number of unemployed Australians to 1,362,000.
The growth in employment, particularly in part-time positions, contributed to this decline, as the workforce expanded by 95,000 to a record high of 15,792,000.
Key Employment Trends in November 2024
1. Surge in Part-Time Employment
- Part-time employment increased by 420,000 to 5,163,000, driven by the pre-Christmas and Black Friday sales season.
- Full-time employment decreased by 237,000 to 9,267,000.
2. Unemployment Decline
- Total unemployment fell by 88,000 to 1,362,000 (8.6% of the workforce).
- The number of Australians seeking part-time work dropped significantly by 146,000 to 789,000.
- However, those looking for full-time work increased by 58,000 to 573,000.
3. Under-Employment Rises Slightly
- Under-employment, including those working part-time but seeking more hours, rose by 68,000 to 1.54 million, or 9.8% of the workforce.
- Total labor under-utilisation (unemployed and under-employed) decreased slightly by 0.2% to 18.4%, representing 2.91 million Australians.
Comparison to Two Years Ago
Since November 2022, when COVID-19 restrictions ended:
- The workforce has grown by 874,000 to 15,792,000.
- Employment has risen by 850,000 to 14,430,000.
- Unemployment has increased by 24,000, reflecting the inability of job creation to fully keep pace with rapid population growth.
ABS vs. Roy Morgan Estimates
Roy Morgan’s unemployment estimate of 8.6% is more than double the Australian Bureau of Statistics (ABS) figure of 4.1% for October. However, when combining ABS unemployment and under-employment figures, the total aligns more closely at 11.2%.
Insights from Michele Levine, CEO of Roy Morgan
“The drop in unemployment to its lowest level in five months reflects the increase in part-time jobs ahead of the holiday season. However, the decline in full-time employment and persistently high under-employment highlight the challenges of ensuring job growth keeps up with Australia’s rapidly expanding population.”
“Since the pandemic restrictions lifted, the workforce has grown by over 870,000 people, but employment has struggled to match this rate of growth. Tackling high levels of unemployment and under-employment must remain a priority for policymakers.”
For detailed employment profiles and insights, visit the Roy Morgan Online Store.
For more local news, click here.
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