The number of employed people fell from 2,170,000 to 2,154,000 in the three months to September*. There are 54,000 fewer people in jobs than December last year. 16,000 jobs were lost in three months – 240 per work day. Unemployment rose another 0.5% to 6.5%, the first time it has been that high since National was last in power.
The number of officially unemployed people (those looking for work, able to work, but without a job) is at 150,000 for the first time since the dark days of the late-80s/early-90s recession brought on by the neoliberal revolution. That’s up from 80,000, the 20-year low point, at the end of 2007.
Add to that the 122,000 under-employed (part-timers who can’t get as much work as they want), up 8,000 in just three months. And the 37,000 more working age people who are not in the work-force since the recession began – up 19,000 to 1,083,000 in the last three months.
Total hours worked – the best measure of the state of the work-force, far better than the unemployment rate – fell 0.8% in the September quarter. We now collectively work 3.2 million fewer hours per week than at the peak in June last year.
Anyone who thinks this recession is over should ask the steadily growing army of the unemployed.
* these are the seasonally adjusted figures, without seasonal adjustment 23,000 jobs were lost.