Queensland’s Underutilised Workforce Reaches Highest Level in 15 Years
Queensland’s unemployment rate remained at 6.2% on a trend basis lagging the national benchmark at 5.5% as the state confronts the challenge of the highest level of underutilisation in 15 years according to analysis conducted by the Chamber of Commerce and Industry (CCIQ).
CCIQ again points out that the private sector is the key to unlocking opportunities in the area of full-time job creation.
Head of Media and Industry, Dan Petrie said that the job creation challenge has become more acute as the state continues to underperform the national unemployment benchmark of 5.5%.
“The latest data reflects a trend where full-time job creation remains incredibly challenging with part-time job gains masking a soft economic climate.
“Incentivising the private sector is the key to reversing this trend,” Mr Petrie said.
Monthly hours worked remain subdued and more worryingly the underutilisation rate is at the highest level in 15 years;
Underutilisation (15.4%) = unemployment (6.2%) + underemployment (9.2%)
Increasing rates in underutilisation have been driven by part-time work and underemployment.
“Almost 30% of the state’s part-time workforce want to work more hours but are unable to do so,” Mr Petrie said.
In the five months to May part-time jobs have increased by 13,700 jobs while full-time positions have declined by 10,100 jobs
Despite rising overall jobs numbers, hours worked has fallen each month during 2018.
CCIQ notes that workers are fighting for a shrinking share of the spoils