Last night, 4 June 2020 on ‘The Business’:

‘While unemployment is bad, underemployment is getting worse‘

Finally the unemployment figure of 5.2% has been canned with Economists saying that the real jobless number could be close to 20%, pointing to an economy slammed into reverse.

HOWEVER … in October 2019 prior to the Pandemic … the forgotten Australians and the hidden data that could double our jobless rate: Unemployment topped 19.7%

KEY POINTS …

–709,000 people officially unemployed in Australia is a myth; the true number of unemployed is more like 2.9 million people

-due to the “marginally attached” which comprises around 1.055 million Australians

–people who would like to work, are available to work, but aren’t looking; because they think there are no jobs for them

– if you count the marginally attached; the unemployment rate would be a touch under 12 per cent

–include the “underemployed” – people working some hours, but who would like to work more – the unemployment rate tops 19.7 per cent

https://thenewdaily.com.au/money/work/2019/10/17/unemployment-figures-marginally-attached-australia/?utm_source=Adestra&utm_medium=email&utm_campaign=Morning%20News%20-%2020191018

VIEW from ‘The Business’ 4 June 2020:  ‘While Unemployment is Bad Underemployment is Getting Worse’

https://www.abc.net.au/news/programs/the-business/2020-06-04/while-unemployment-is-bad,-underemployment-is/12323126?nw=0