ABS Unemployment statistics – Media Release

August 13, 2020

A MILLION AUSTRALIANS OUT OF WORK SHOWS IMPORTANCE OF HELPING SMALL BUSINESSES SURVIVE — COSBOA

The Australian Bureau of Statistics reporting today that a million people are out of work, available to work and actively looking for work shows there is a significant ongoing risk to business survival in Australia, the Council of Australian Small Business Organisations Australia (COSBOA) said today.

Data from the Australian Bureau of Statistics (ABS) today showed the economy added almost 115,000 jobs in July, but the unemployment rate crept up to 7.5 per cent.

The ABS said a million people were out of work but available to work for the first time, and the number of people employed was half a million lower than in March.

Today’s data reflects the impact of the Stage 3 lockdown restrictions in Victoria. The impact of the Stage 4 restrictions will not be seen until next month’s ABS labour force report.

COSBOA chief executive Peter Strong said: “The job creation is of course welcome, but the figures also show jobs are being lost and there is a lot of pain out there for Australians and the small businesses in their communities.

“There’s a ripple effect from higher levels of unemployment like we are seeing now.

“When a person loses their job, it’s devastating for them clearly but it also means two or three small businesses might lose a customer.

“Small, local businesses need every customer they can get at the moment.

“The reality is not all of them are going to make it through this pandemic but if you think about how you can GO LOCAL FIRST, support small businesses, there’s a better chance your favourite businesses will still be there on the other side.”

With the support of the Morrison Government, COSBOA has launched GO LOCAL FIRST, a six month campaign urging Australians to choose to buy with small, local businesses and support the national economic recovery.

ENDS

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