Australia’s unemployment rate has climbed to 7 per cent in October despite large numbers of residents gaining more hours at work or finding employment.
Between September and October Australia’s unemployment rate lifted 0.1 percentage point from 6.9 per cent to 7.0 per cent.
Despite headline rate lifting, seasonally adjusted employment increased by 178,800 people and the number of hours worked also lifted dramatically.
The increase in the unemployment rate is explained by an increase of people looking for work, largely as a result of JobSeeker conditions.
Those who are not seeking a job, have left the labour market or worked zero hours are known as the “effective unemployment rate”, which may be much higher.
Bjorn Jarvis, head of Labour Statistics at the ABS, said despite the headline figure lifting job conditions are improving for conditions is the tail end of the COVID-19 pandemic.
“This strong increase means that employment in October was only 1.7 per cent below March, and reflects a large flow of people from outside the labour force back into employment,” said Mr Jarvis.
“Encouragingly, the rise in employment was also accompanied by a strong rise in hours worked, particularly in Victoria, where hours increased by 5.6 per cent.”
Nationally the number of unemployed people rose by 25,500 over the month, while the number of monthly hours worked in all jobs grew by 21 million.
Compared to October 2019, the number of unemployed Australians is up by 33.1 per cent.