Roy Morgan reports increased unemployment
Roy Morgan Research has released new employment data which shows around 10.4 per cent of the workforce – or around 1.4 million Australians – are currently unemployed.
The results may be of interest to those in the recruitment sector, as they show a month-over-month increase in unemployment of 0.3 per cent.
Gary Morgan, Roy Morgan executive chairman, says that there is "no good news" in the latest unemployment estimates, and has suggested that the new government will be working hard to bring down these numbers.
"With this level of real unemployment, there is no doubt the new Coalition Government will be reviewing all the 'drivers' of employment – Industrial Relations laws and practices; restoring confidence in Australian businesses and the Australian economy," said Mr Morgan in an October 1 statement.
Mr Morgan also took the opportunity to call for the Reserve Bank of Australia to lower the Official Cash Rate, in the wake of concerning overseas economic conditions.
According to Roy Morgan, around 2.286 million Australians were either unemployed or underemployed during September. That number is up 0.9 per cent over the results recorded in September of last year.
With unemployment on the rise, it is possible that more Australian job hunters will turn towards recruitment agencies in order to find work and secure in demand positions.
Australian recruitment companies preparing for this shift, and looking to improve their ability to quickly and accurately source and place candidates, may want to take a close look at next generation recruitment software solutions.
Such software can enable agencies to improve productivity and accuracy, gaining a valuable competitive advantage and ensuring that strong relationships with candidates and clients are maintained.
Roy Morgan's unemployment statistics often differ significantly from those reported by the Australian Bureau of Statistics (ABS). The ABS is expected to release their September unemployment figures later in October.