March 2022 Jobs Data

Despite what Scott Morrison says about Australian jobs growth in his electioneering, the stats in the March 2022 jobs data released by the Australian Bureau of Statistics yesterday don’t support this.

Firstly between May 2019 (when we had the last Federal Election) and March 2022, jobs growth was 513,000 jobs. This represents annual jobs growth of under 1.5%. Hardly leading the world as Scott Morrison wants you to believe. Also QLD had 37% of the job’s growth. Was that due to Federal Liberal or state Labor?

And hidden in the data, is that the total number of hours worked in March 2022 is just 1.94% above the hours worked in May 2019. So yes more jobs, but on average people are working 2% less hours a month.

The other highlight Scott Morrison talks about is the unemployment rate, which was actually 3.95% in March.

But, in my opinion, this low rate has nothing to do with the employment policies of the government and instead has to do with the border restrictions placed by the government. These border restrictions probably stopped 125,000 to 150,000 potential workers entering the country. Had these workers actually entered Australia, unemployment would have been higher than February 2020.

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

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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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