Australian unemployment at its highest in almost two decades
The volatility seen in Australia's unemployment rate near the end of last year reached a climax in December as it soared to its highest level since 1995, according to Roy Morgan Research.
The research firm's regular reporting of national unemployment showed that the rate crept upwards in October 2013 before dropping again in November, no doubt largely due to seasonal employment in the approach to Christmas.
However, the latest dispatch from Roy Morgan Research reveals that unemployment picked up again by 1 per cent in December to reach 11.2 per cent – a level not seen since January 1995.
This amounts to a total of approximately 1.41 million Australians who were involuntarily out of work. When the number of "under-employed" Australians – that is, those working part-time and looking for more work – is added, this figure jumps up to 2.503 million.
Roy Morgan Research Executive Chairman Gary Morgan said that the contraction in full-time employment in Australia was a particular area of concern.
"Although it must be noted that unemployment traditionally rises in December (in 16 out of the last 20 years), the large drop in full-time employment is a significant concern as it indicates businesses are hesitant about taking on full-time employees," he stated in a January 13 media release.
Data from Roy Morgan Research indicates that around 777,000 Australians are looking for full-time roles, up by 77,000 from the previous month.
As more Australians look to make it their New Years' resolution to find a job, be it full-time or part-time, recruitment agencies across the country can certainly do their part in helping them reach their goals.
By using the workflow automation power of recruitment software solutions such as FastTrack360, agencies can streamline their recruiting processes to not only save time and costs for themselves, but match candidates to ideal jobs in an efficient manner.