The concept of unemployment and an unemployment rate is fairly new, dating back to the end of the second world war. It’s increasingly unfit for purpose.
Michelle Grattan discusses the political week that was with Emma La Rouche from the University of Canberra’s Media and Communications team
The share of the population in work has hit an all-time high as the share of the workforce underemployed has hit a 14-year low. The fresh low in unemployment will bring higher interest rates, and perhaps higher wages.
Minimum wage is no match for rising cost of living.
Photo by Adekunle Ajayi/NurPhoto via Getty Images
With a monthly minimum wage of 30,000 Naira (US$72), the average Nigerian worker is groaning under the weight of the rising cost of living.
Of the news on prices, wages, interest rates and unemployment, only the unemployment update looks set to be positive for the Coalition.
The pandemic and the aging population are both partially responsible for the current labour shortage.
With employers struggling to hire enough workers, reliance on automation is becoming more of a necessity than just a source of competitive advantage.
Even with the latest small increase, JobSeeker remains low by overseas standards – and, on one measure, it’s the lowest in the OECD.
The March 29 budget will contain “targeted and proportionate” help for families with cost of living pressures and move fiscal policy towards stabilising and reducing debt.
Politics with Michelle Grattan: Stay calm, petrol is headed down, budget is improving – economist Chris Richardson.
Michelle Grattan speaks with Deloitte Access Economics director Chris Richardson about the Australian economy, the budget, and petrol prices
Staff members of an e-commerce company in Rwanda.
Xinhua/Wang Teng via Getty Images
Whereas digital work can bring freedom and flexibility into the lives of workers in Africa, it can also contribute towards their precarity and vulnerability.
Ghana’s economy is in dire straits.
Ghana’s economy is in its most precarious state in decades.
A tighter labour market than in the past is now needed to drive real wages growth.
If we want higher wages, we must win them through deliberate wage-boosting policies.
There is enough momentum for Australia’s unemployment rate to go lower than 4.2% in 2022. Keeping it low is another matter.
AP Photo/Jenny Kane
The job market continued to improve in December, but a stagnating labor pool will pose more challenges for employers in 2022.
Budget update shows the government has a big election war chest, and an optimist economic outlook
Even now much of the recovery in employment seems to be happening without big wage increases.
“Heigh-ho, heigh-ho, it’s back to work we go.”
Klaus Vedfelt/Getty Images
October’s employment report was rosy, with more than 500,000 jobs added in the month. There were also signs that the American workforce was heading back to the old normal.
The fight over the minimum wage continues.
AP Photo/John Raoux
The question is actually one of the most studied in all of economics and still doesn’t have a definitive answer – though Nobel-winning economist David Card got us closer.
Threatened by insecurity, farmers in Nigeria’s farm belt are increasingly abandoning their land, leading to higher cost of food
Photo by Kola Sulaimon/AFP via Getty Images
Nigeria’s post COVID-19 economic recovery plan has resulted in only marginal improvements in economic growth, manufacturing and foreign direct investment.