Economy

Women hit hardest by economic slowdown

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The 19,000 workers who lost their jobs last month were mostly women in part-time work, Australian Bureau of Statistics data released last week shows.

While the unemployment figure has stayed steady at around 4.3%, the ABS reports 19,700 jobs were lost last month in a further sign the economy is slowing. Over 19,600 of these jobs were held by women.

Professor Barbara Pocock, director of the Centre for Work and Life at the University of South Australia, told the Brisbane Times there were more females employed in casual and part-time jobs, which are feeling the heat of consumer caution.

“It may be reflecting more caution in the consumer area,” she says. “It may be affecting areas where women are employed, such as retail. A lot of jobs that are held by women are part time. And about 30% of women in Australia are employed on casual terms.”

However, the figures add to the speculation the economy and inflationary pressure is starting to slow, and has caused some economists to expect the Reserve Bank will hold off on interest rates at its next meeting.

 

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