True unemployment rate now at 11.3 per cent
The number of Australians out of a job is significantly more than widely reported.
An analysis of new Australian Bureau of Statistics data by The Australia Institute reveals that in September 2008 there were 780,900 people who did not have a job, 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 11.3 per cent. The official rate is currently stated as being 5.2 per cent.
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