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Australian labour market – weak with broad underutilisation rising

Today, the Australian Bureau of Statistics released the latest data – Labour Force, Australia, November 2018 – which shows that the employment growth was all due to part-time jobs growth (probably related to the Xmas season) and both full-time employment and hours worked were negative. Not a good sign. The moderate employment growth, however, trailed behind the growth in the labour force and unemployment rose a bit. The broad measure of labour underutilisation rose by 0.3 points to 13.6 per cent with underemployment rising by 0.2 points. Again, a sign of a weak labour market that is relying on part-time jobs for growth. The Australian labour market remains a considerable distance from full employment. There is clear room for some serious policy expansion at present.

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