The official numbers from the Bureau of Statistics show unemployment passing a two-decade high, reaching 7.4 per cent in June.
Key points:
- Around 280,000 people started looking for work again in June
- More people looking for jobs pushed unemployment up from 7.1 to 7.4 per cent, despite the creation of 210,800 jobs
- The rise in employment was dominated by 249,000 part-time jobs, while full-time work fell
The true picture is much worse, with the Treasurer admitting earlier this week that unemployment would be above 13 per cent without Government supports like JobKeeper.
That is why the official figure is set to keep getting worse, even as the reopening of the economy adds back jobs, as it did last month when employers hired an additional 210,800 people.
The reason that unemployment rose despite so many jobs being created, or reinstated, was that even more people ventured back out to look for work.
“The easing of COVID-19 restrictions in June saw an extra 280,000 people in the labour force, with more people in employment, and more actively looking and available for work,” said Bjorn Jarvis from the ABS.
One storeroom job, 200 applicants
Adam Gotch can testify that there is no shortage of people looking for work.
His roll cage manufacturing business in south-west Sydney was recently looking for a new storeman to replace someone who had quit.
