22 Jun 2017
Future of Employment: Underemployment
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
We have gone 26 years without a recession (defined as two consecutive quarters of negative GDP), the unemployment rate is 5.7% and yet we still have a challenge.
Underemployment, defined as when people in a labor force are employed at less than full-time or at jobs inadequate with respect to their training or economic needs is now pushing up towards 10.0%.
The challenge is to get these people employed otherwise it will become a material drag on economic growth for Australia over the next decade.
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