If you have been keeping with the news, you may have seen the 2023 release of the Intergenerational Report, a document summarising economic outlooks and Australia’s budget over the next 30 years. One of the major challenges identified is Australia’s ageing population, an issue which has sparked significant discussion in the media with concerns that even with superannuation, retirees will still not able to cover living expenses.According to AMP’s 2022 Financial Wellness report, 21% of working Australians are not confident that they have the funds to live at their desired lifestyle in 2022, up from 17% in 2021.While we acknowledge the challenges of the situation…
Category: Employment
Welcome to the second instalment of our Empty Suburbs series, where we will be taking a look at the suburbs and localities with the highest vacancy rates as of the 2021 Census. For this instalment, we will be exploring Victoria.From our last episode where we covered New South Wales, we found that the highest vacancy rate suburbs are along the Central Coast and the Inner City. Rather than just commenting on the phenomenon of high vacancies, we will also be highlighting the comparison between Victoria and New South Wales and the impacts of COVID-19 on Victoria’s dwellings. Do we see similar trends in Victoria? Are…
The increasing female participation in the workforce across age groups has been instrumental in reshaping the Australian labour market. While the gender divide in participation rates across industries and employment status is still quite significant, the latest release of the 2021 Census provides us with a more telling snapshot of the emerging patterns and trends of women participation in the labour force and how it has evolved over the years. The share of women in the workforce has been consistently on the rise over the last three decades, with the share of male participation remaining relatively stable. While the gap in participation rate between both…
The first release of the ABS 2021 Census gave us a fascinating glimpse into to the many structural changes that has taken place within Australia over the last 5 years. Following suit, the second release continued to unravel more interesting trends about the way we’ve adjusted our behaviours and attitudes to the “new normal” in the post COVID-19 and how this is reflected on the wider community and the future of Australia.For those of you who have been following our work (both here and on LinkedIn), you’d know that we have been particularly interested in understanding what the second release reveals about the many employment…
What we’ve seen so far? The 2016 Census recorded low unemployment and underemployment rates, with a marginal drop from that of previous years.Unemployment rates have continued to be on the low since the 2016. While unemployment soared in the wake of Australia’s border closures, the economy witnessed a quick recovery with employment bouncing back to near pre-Covid levels. In light of the recurring lockdowns in 2020 and 2021 and the return of the international workforce back to their home countries, the available casual /part time workforce contracted. Underemployment rates followed a similar trend to unemployment rates since the last Census. While it’s promising that underemployment…