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SPOTLIGHT ON UNDERUTILISATION
Components of underutilisation
The QLFUR can also be thought of as the sum of the quarterly unemployment rate and the quarterly underemployment rate. Since May 2008, increases in both the trend quarterly unemployment rate and the trend quarterly underemployment rate have contributed to the increase in the QLFUR.
The trend quarterly unemployment rate increased from 4.2% in May 2008 to 4.4% in November 2008, while the trend underemployment rate increased from 5.9% to 6.2%, respectively.
OTHER USEFUL MEASURES
ABS produces a number of measures that are useful in gauging the extent and volume of labour market slack. Each month the ABS publishes the unemployment rate and the long-term unemployment rate, and each quarter the QLFUR (including the quarterly underemployment rate) is produced. Furthermore, the extended labour force underutilisation rate is produced annually and this measures the degree of labour underutilisation that exists within and outside of the labour force.
In addition, in the July issue of Australian Labour Market Statistics (cat. no. 6105.0), the ABS publishes volume or hours based measures of labour underutilisation. These measures provide estimates of the number of (additional) hours that the unemployed and underemployed have to offer.
For further data regarding the quarterly measures of labour underutilisation please see Tables 4.1 to 4.4 in this publication. For further information about any of the measures mentioned in this article, please contact Tracey Chester (ph (02) 6252 5609 or email <email@example.com>).
1. Research Paper: Some Aspects of Turning Point Detection in Seasonally Adjusted and Trend Estimates (Methodology Advisory Committee, June 2006 ( cat. no. 1352.0.55.079)
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