Australian Housing Dynamics and Affordability
AUSTRALIAN LABOUR MARKET
UNEMPLOYMENT AND UNDEREMPLOYMENT¹
%
10
00
8
60
4
2
1994
*
1999
T
JOB VACANCIES AND ADVERTISEMENTS¹
%
%
10
2.0
Underemployment rate*
8
1.5
2004
Unemployment rate
4
1.0
2009
2014
2
2019
0.5
Full-time workers on reduced hours for economic reasons and
part-time workers who would like, and are available, to work more hours
Source: ABS
2003
(Per cent of labour force)
%
Advertisements
(ANZ survey)
J
2007
2.0
Vacancies*
(ABS survey)
1.5
I
I
2011
2015
1.0
0.5
2019
This survey was suspended between May 2008 and November 2009
Sources: ABS; ANZ
WAGE PRICE INDEX GROWTH²
1%
%
Private sector
Public sector
7
5
01
5
6
4
3
2
-
Year-ended*
(incl bonuses)
2010
Year-ended
(excl bonuses)
2019 2001
Quarterly
(excl bonuses)
3
2010
2019
Not seasonally adjusted; bonuses include commissions
2001
*
Source:
ABS
N
1
% change y/y
5
LABOUR COSTS AND INFLATION3
+ M
2
1
5.0
4.5
4.0
3.5
3.0
2.5
2.0
1.5
% change y/y
O
1.0
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19
NAB labour costs (LHS) -Wage price index - private sector (RHS)
Sources: 1. RBA Chart Pack Oct 2019 2. RBA Speech: "The Labour Market and Spare Capacity", June 2019. 3. ABS, ANZ Research
ANZ 114View entire presentation