March data released this week showed the unemployment jumped from 5.2
per cent in February, the biggest monthly jump since July 1991 when Australia
was last in recession.
But an analysis of recent Australian Bureau of Statistics data by the
Australia Institute shows that in September 2008 there were 780,900 people
who did not have a job and wanted to work, but were not included in the
unemployment figures.
Taking account of these "hidden unemployed" brings Australia's real rate
of unemployment to 11.7 per cent, much higher than the official rate of 5.7 per
cent, it says.
It says "hidden unemployment" refers to those aged 15 to 69 years that
were not actively seeking work in the week the ABS was conducting its
monthly survey, but were nonetheless looking for work. These people tended
to list their main activity as attending an educational institution, household
duties and caring for children.
The institute says combining the official unemployment rate with the
"hidden unemployment rate" gives a more accurate picture of the number
of jobless in Australia. "For every person officially recorded as unemployed
there are some 1.2 people, the hidden unemployed, who would also like to
work and are available to start," senior research fellow at the institute,
David Richardson said. "With the global financial crisis causing further
deterioration in the job market and a surge in welfare claimants forecast as
a result, it is time for the Government to address the inadequate benefits
available to the unemployed."
The Australia Institute recommends that unemployment benefits be
increased by $56 a week for singles and $64 for couples in the May
budget to bring the payments into line with age and disability pensions.
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