Last month’s Australian labour force data showed what a part-time employment nation we were becoming. The latest labour force data released today by the Australian Bureau of Statistics – Labour Force data – for June 2016 show that employment growth has virtually ground to a halt (although there was positive growth in full-time employment). The Australian labour market has stagnated with low to zero employment growth failing to match the underlying population growth, with the result that unemployment has risen over the last six months. The teenage labour market remains in a poor state and requires urgent policy intervention. Overall, with weak private investment now on-going, the Australian labour market is looking very weak and the Federal government should have introduced a rather sizeable fiscal stimulus in its June 2016 fiscal statement. That is what it should do now it has been re-elected. This should have included a large-scale public sector job creation program which would ensure teenagers regained the jobs that have been lost due to the fiscal drag over the last several years. We won’t be holding our breath!

The latest labour force data released today by the Australian Bureau of Statistics – Labour Force data – for May 2016 show that those ominous signs that have been apparent for most of this year have brought the Labour market to a halt – stagnating with low to zero employment growth and static (slightly rising) unemployment at elevated levels. Trend employment growth has is slowly receding to zero. Total employment growth was virtually non-existent with only 17,900 (net) jobs created. Full-time employment remained unchanged after declining last two months. Almost all of the employment growth was part-time and most of that occurred in the teenage segment of the labour market, although that cohort went backwards in terms of full-time employment. Over the last six months, full-time employment has contracted by 44.4 thousand (net) jobs. Australia is becoming a part-time employer and that signals badly for the quality of work. Underemployment has also risen by 10 thousand or so since February 2016. The teenage labour market remains in a poor state and requires urgent policy intervention. Overall, with weak private investment now on-going, the Australian labour market is looking very weak and the Federal government should have introduced a rather sizeable fiscal stimulus in its May 2016 fiscal statement. This should have included a large-scale public sector job creation program which would ensure teenagers regained the jobs that have been lost due to the fiscal drag over the last several years. However, the Federal government appears incapable of addressing this dire issue. The current election campaign is bogged down in arcane and mythical discussions about running out of money and not being able to defend the economy if there is another crisis. Both major parties are constantly pretending they will be the best at “budget repair” (as if the fiscal balance is a car or something) even though the reality requires higher discretionary fiscal deficits at present. All make believe, while the real world does head towards another major rift. It should be up to the Opposition to shift the political agenda in the current election campaign. But, they are missing in action on these important issues.

The latest labour force data released today by the Australian Bureau of Statistics – Labour Force data – for April 2016 show that those ominous signs that have been apparent for most of this year are still hovering above the labour market. Total employment growth was virtually non-existent with only 10,800 (net) jobs created. Full-time employment decreased 9,300, while part-time employment increased by 20,200. It is the second consecutive month of negative full-time employment growth, which highlights the deteriorating labour market situation in Australia. There was also a decline in hours worked which is now trending downwards. Over the last six months, around 87 per cent of the net jobs created have been part-time. The growth in part-time work suggests that overall the quality of work in Australia again deteriorated. So overall a poor outcome. Unemployment rose marginally this month but this is largely because the weak employment growth is interacting with even weaker labour force growth. The participation rate fell again. The teenage labour market remains in a poor state and requires urgent policy intervention. Overall, with weak private investment now on-going, the Australian labour market is looking very weak and the Federal government should have introduced a rather sizeable fiscal stimulus in its recent fiscal statement. This should have included a large-scale public sector job creation program which would ensure teenagers regained the jobs that have been lost due to the fiscal drag over the last several years. However, the Federal government appears incapable of addressing this dire issue. It is embroiled in mythical discussions about running out of money and not being able to defend the economy if there is another crisis. All make believe, while the real world does head towards another major rift. It is up to the Opposition to shift the political agenda (in the current election campaign). But, they are missing in action on these important issues.

In the previous two months, there was virtually zero employment growth and labour force participation declined. The latest labour force data released today by the Australian Bureau of Statistics – Labour Force data – for March 2016 show that those ominous signs are still hovering above the labour market. Total employment growth was modest at best – 26,100 (net) jobs created but full-time employment fell by 18,800. There was also a decline in hours worked which is now trending downwards. The growth in part-time work suggests that overall the quality of work in Australia declined in March 2016. So overall a poor outcome. Unemployment fell this month but this is largely because the weak employment growth is interacting with even weaker labour force growth. But still, a decline in unemployment, not induced by a fall in the participation rate is a welcome outcome. The teenage labour market remains in a poor state even though the 15-19 year olds enjoyed part-time employment growth. Overall, with private investment forecast to decline further over the next 12 months, the Australian labour market is looking very weak and the Federal government should be introducing a rather sizeable fiscal stimulus in its upcoming fiscal statement. This should include large-scale public sector job creation which would ensure teenagers regained the jobs that have been lost due to the fiscal drag over the last several years. However, the Federal government appears incapable of addressing this dire issue. It is embroiled in mythical discussions about running out of money and not being able to defend the economy if there is another crisis. All make believe, while the real world does head towards another major rift.

Last month, employment growth was basically flat (slightly negative). Participation decreased. The signs were ominous. This month, the dismal picture unfolded further. Today’s release of the – Labour Force data – for February 2016 by the Australian Bureau of Statistics show that those ominous signs have worsened. Total employment growth was zero (well 300 net jobs). A pathetic result. Unemployment fell but only because the participation rate fell by 0.2 points – thus the idle labour arising from the weak employment growth just left the labour force and is now hidden unemployment. Working hours fell further – the trend is flat and has been for the last few years. The teenage labour market continued to deteriorate with the adjusted unemployment rate (taking into account the sharp fall in participation since the downturn) of 29.1 per cent rather than the official estimate for February 2016 of 17.8 per cent. Overall, with private investment forecast to decline further over the next 12 months, the Australian labour market is looking very weak and the Federal government should be introducing a rather sizeable fiscal stimulus in its upcoming fiscal statement. This should include large-scale public sector job creation which would ensure teenagers regained the jobs that have been lost due to the fiscal drag over the last several years.

Last month, employment growth was basically flat (slightly negative). Participation decreased. The signs were ominous. Today’s release of the – Labour Force data – for January 2016 by the Australian Bureau of Statistics show that those ominous signs have worsened. Total employment growth fell again with massive drops in full-time jobs, unemployment increased sharply and the unemployment rose by 0.2 per cent on the back of the declining employment and steady participation. The teenage labour market continued to deteriorate with the adjusted unemployment rate (taking into account the sharp fall in participation since the downturn) of 28.2 per cent rather than the official estimate for January 2016 of 18.3 per cent. Overall, with private investment forecast to decline further over the next 12 months, the Australian labour market is looking pretty wan indeed.