The September unemployment figures are out — and we can clearly see results of the champion efforts of Daniel Andrews and his government.
The headline figures are grim enough: seasonally adjusted employment decreased by 30,000 people (0.2 per cent) between August and September and unemployment increased by 11,000.
But take a look at the figures for Victoria alone. The state supposedly responsible for a quarter of the country’s economic activity is plunging into a pit, dragging the national results down with it as it falls.
According to the ABS, employment in Victoria decreased by 36,000 last month, following a fall of 37,000 in August. Hours worked in the state fell by a further 2.1 per cent, following the 4.6 per cent fall in August.
Nationally, the Bureau reports that the decrease in employment and increase in unemployment saw the unemployment rate rise from 6.8 per cent to 6.9 per cent.
And Victoria? Its unemployment rate decreased from 7.1 per cent to 6.7 per cent.
Yes. You read that right. It fell because the Victorian participation rate — the number of people either in work or looking for work — fell one whole percentage point in September. In other words, these people either gave up working, gave up looking for work — or both.
This sign of despair bought the Victorian unemployment figure down (the ABS notes the Victorian participation rate is 3.4 percentage points below the March results).
Nationally, it’s bad enough:
- The unemployment rate increased to 6.9%.
- The participation rate decreased to 64.8%.
- Employment decreased to 12,571,900.
- Employment to population ratio decreased to 60.3%.
- Underemployment rate increased to 11.4%.
- Monthly hours worked increased by 9 million hours.
Only that last figure is positive — but wait until you see how Victoria compares there:
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