January 2022 Jobs Data

The January 2022 jobs data released by the Australian Bureau of Statistics last week, shows another jump in employment (13,000). But it was a mixed bag of results. Employed women increased by 66,000 in January, but 56,000 of these were part time jobs. For the many groups it was the opposite, employment was down in January, reversing some of the gains in December. These groups include men, people under 25, full time jobs, jobs in NSW and Victoria, . The unemployment rate remains the lowest since August 2008.

Also total hours worked in January 2022 were lower than the hours work in January 2016 (and every January in between). If you average this out by the number of employed people, it is the lowest average hours worked by each employee since the records were captured in 1978 and continues the downward trend in hours worked.

The charts below have more detail on the trends we are seeing in the Australian workforce.

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Contact Wayne Wanders for your FREE Business Survival Session

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April 2021 Jobs Data

The April 2021 Jobs Data released today is the first jobs data after the end of JobKeeper.

At one level it looks like the end of JobKeeper did not have a big impact as the unemployment rate fell from 5.7% in March to 5.5% in April.

But if you look behind the numbers you see a different story.

Firstly, the number of employed people fell by nearly 31,000 between March and April. Women suffered the worst here, with the number of employed women falling by over 36,000. From a state perspective, the biggest job losses were in NSW which had nearly 37,000 less people working in April compared to March.

Secondly, the total labour force fell by over 64,000 people between March and April. This means that over 64,000 people stopped working, or stopped looking for work in April. For people who were unemployed in March and stopped looking for work in April, they are no longer counted as unemployed.

Thirdly, whilst the number of unemployed people of nearly 34,000 people in April, this can be reasonably attributed to less people looking for work and not actual job creation (especially as there are nearly 31,000 less people working in April).

My conclusion

I think the end of JobKeeper in March, has meant a lot of people gave up hope of getting work in April.

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Contact Wayne Wanders for your FREE Business Survival Session

To ensure I help your business specifically, the best approach I have found is to have an obligation free session with you. In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face. And this session does not need to be face to face.

At the end of this session, you will have multiple ideas on how your business can survive and thrive in these uncertain times.

Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

To get help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

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