The Federal Government Announces Tax Cuts Aiming to Reduce Unemployment
As part of the upcoming federal budget, the Australian Government has announced that it will give 10 million working Australians a one-off tax cut. The purpose of this incentive is to boost the economy as it has been revealed that the number of long-term unemployment across the country is drastically increasing despite Australia’s quick rebound […]
The Current Rate of Underemployment in Australia
When the Australian Bureau of Statistics (ABS) releases its monthly survey of the labour force, a person is only required to work a minimum of 1 hour a week to be considered as “employed”. On the surface this might make people believe that the government is trying to manipulate the unemployment data to make the […]
Australia’s Small Business Sector Needs to Create 210,000 More Jobs to Ensure Full Economic Recovery
New research released by Xero on Wednesday 5th May illustrates that Australia was one of the fastest recovering economies in the world during the second half of 2020. It has been revealed that only 210,000 more jobs need to be created across Australia’s small business sector by the end of this year to drive a […]
The Fallout of JobKeeper Has Been Overstated
The Australian Government has revealed that between 16,000 and 40,000 workers who were on JobKeeper during its final stage have lost employment since the $90 billion wage subsidy program was discontinued on Sunday 28th March. The recently released figures, are drawn from estimates from Single Touch Payroll microdata for the fortnight ended Sunday 11th April, […]
Australians Are Using Early Access to Super to Pay Mortgages and Credit Card Bills
New figures released by the Australian Bureau of Statistics (ABS) revealed that almost a third of those who applied for early access to their superannuation as a result of covid-19 enforced financial hardship have used the money to pay their mortgages, rent or other household bills. The statistics were released on Wednesday 14th April as […]
70,700 New Job Were Added to The Australian Workforce in March 2021
The Australian Bureau of Statistics (ABS) has announced that almost 71,000 new jobs were added to the Australian workforce between February and March 2021. The total hours worked has also returned to the same levels that were recorded prior to the covid-19 pandemic. These figures are also illustrating hat there is a big increase in […]
Job Vacancies in Australia Hit Record Levels as JobKeeper Ends
Australia’s national jobs market appears to be in a strong position to take up many of the 1 million Australians who have recently come off the federal governments JobKeeper wage subsidy program. The Australian Bureau of Statistics (ABS) revealed that at the end of March 2021 there was approximately 289,000 vacant jobs across Australia in […]
Youth Unemployment in Australia During the Covid-19 Pandemic
Over 870,000 Australians lost their jobs during the first few months of the covid-19 pandemic. Around 38% or 332,200 of these Australian workers were young Australian aged between 15 and 24. By June 2020, as Australia’s overall unemployment rate hit 7.4%, the youth unemployment rate jumped to 16.4%, with a further 19.7% underemployed. An underemployed […]