Australian employment increased to over 14 million for the first time in November, but still over 3 million unemployed or under-employed

In November 2023 Australian employment hit a record high of over 14 million for the first time with over 9 million now employed full-time and over 5 million employed part-time.

However, despite surging employment – up by 430,000 compared to a year ago – a massive 3.04 million Australians (19.6% of the workforce) were unemployed or under-employed in November.

‘Real’ unemployment was down 0.2% to 9.7% – an estimated 1,505,000 Australians (down 37,000) in November. There were more people looking for full-time jobs (up 20,000 to 626,000) but many fewer people looking for part-time jobs (down 57,000 to 879,000) compared to a month ago. In addition, there were a further 1,532,000 Australians (down 45,000) now under-employed.

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The November Roy Morgan Unemployment estimates were obtained by surveying an Australia-wide cross section of people aged 14+. A person is classified as unemployed if they are looking for work, no matter when. The ‘real’ unemployment rate is presented as a percentage of the workforce (employed & unemployed).

• Employment increased to a new record high in November with record high part-time employment:

Australian employment increased by 51,000 to a new record high of 14,010,000 in November. The increase was due to a rise in part-time employment, up 52,000 to a new record high of 5,002,000 while full-time employment was virtually unchanged at 9,008,000.

In November 2023 Australian employment hit a record high of over 14 million for the first time with over 9 million now employed full-time and over 5 million employed part-time.

• Unemployment was down in November with significantly fewer people looking for part-time work:

In November 1,505,000 Australians were unemployed (9.7% of the workforce), a decrease of 37,000 from October. There were 879,000 (down 57,000) looking for part-time work but 626,000 (up 20,000) now looking for full-time work.

• The workforce increased by almost 600K from a year ago to a record high over 15.5 million people:

The workforce in November was 15,515,000 (up 14,000 from October, and up a massive 597,000 from a year ago) – comprised of 14,010,000 employed Australians (up 51,000 from a month ago) and 1,505,000 unemployed Australians looking for work (down 37,000).

• Overall unemployment and under-employment down 0.5% points in November to 19.6%:

In addition to the unemployed, a further 1.53 million Australians (9.9% of the workforce) were under-employed, i.e. working part-time but looking for more work, down 45,000 from October. In total 3.04 million Australians (19.6% of the workforce) were either unemployed or under-employed in November.

Compared to early March 2020, before the nation-wide lockdown, in November 2023 there were almost 900,000 more Australians either unemployed or under-employed (+4% points) even though overall employment (14,010,000) is over 1.1 million higher than it was pre-COVID-19 (12,872,000).

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