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.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
