Roy Morgan unemployment is a better measure than the doctored ABS version.
“Despite the record employment growth over the last three years, there are still a significant number of people who have joined the workforce without finding employment – a total of 435,000 since the last Federal Election. This influx of people into the workforce has meant unemployment is up significantly over the last three years from 8.1% of the workforce to 10.2% (up 2.1%).
“Looking back since the last Federal Election the rapidly increasing Australian population and workforce has led to a persistently high level of labour under-utilisation. Since July 2022 total unemployed and under-employed has been permanently above 2.5 million, and since April 2023 total labour under-utilisation has been stuck above 2.6 million and averaged nearly 3 million over the last two years.
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