Unemployment could peak in 2010
The Australian Bureau of Statistics employment figures for November reflected the increase in unemployment being experienced across this and other industries.
Unemployment rose by 7,9000, to 496,600 (seasonally adjusted), in the November figures. The number of people looking for part-time work rose by approximately 2,000 while those looking for full-time work rose to 5,900.
As a result, the official unemployment rate rose by 0.1 percentage point to 4.4 per cent.
However, Roy Morgan research put the number of unemployed people at 696,000, due to a different way of defining ‘unemployed’.
Roy Morgan suggested the unemployment cycle would peak at around 6.5 per cent in 2010, with around 230,550 people losing their jobs between now and then.
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