Unemployment rises to 5.2%

Unemployment rises to 5.2%

The ABS has revised unemployment for May up 0.1 per cent to 5.2 per cent, and has found this increase stayed steady through June, according to new stats released this morning.

The increase means the number of unemployed people in Australia is now above 700,000.

This comes as the longest period of near-record low wage growth since the Second World War continues, with no end in sight thanks to a complete lack of action from the Morrison Government.

Quotes attributable to ACTU President Michele O’Neil:

“700,000 people are unable to find work and 1.1 million cannot find enough work. This is the workforce under the Morrison government, less work, less security, lower wages, but bigger profits for employers.

“Low wage growth, insecure work and rising unemployment show a Government with no plan for jobs and no plan to increase wages. The Morrison Government’s only plan is to attack working people and reduce their power to win secure jobs and pay rises.

“These stats show what working Australians can already feel. It’s getting harder to find work and even when you find it the hours and wages aren’t enough to live on. We need systemic change to give working people the power and security they need to win wage rises and better conditions.

“Low wage growth is crushing consumer spending which the RBA has repeatedly warned is damaging the economy.

“To get the economy started again we need money in the hands of working people who will spend it at Australian businesses. The Morrison Government’s refusal to help working people is stalling the entire economy.

“The Morrison Government has no plan to deliver jobs or give workers job security.”