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 an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
