September 2021 Jobs Data

The September 2021 Jobs data released by the Australian Bureau of Statistics yesterday, clearly shows how lockdowns adversely impact the labour market in Australia.

For example, the number of employed people in NSW and Victoria in September 2021 is 4.8% and 1.8% below February 2020 respectively. In total NSW and Victoria had a combined job loss between February 2020 and September 2021 of over 258,000 people. This compares to the over 353,000 jobs they added between February 2018 and September 2019. That is an adverse turnaround of over 600,000 jobs. That is a huge impact on the Australian economy.

On the other side, despite border closures locking out many people, QLD and WA have increased their employment numbers by over 3% each between February 2020 and September 2021.

Women and under 25’s continue to experience a disproportionate share of job losses. The number of full time employed males is up slightly on February 2020. This is clearly an area that should be looked at as part of any recovery action plans.

I expect some of the job losses will be recovered in October as NSW starts to open up, but will this be enough just to take us back to where we were in February 2020 before lockdowns started?

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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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Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au

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