Unpacking Unemployment: What the Numbers Really Mean

Unemployment is more than just a headline figure—it’s a window into the health of the labour market and the economy. In this episode, we break down how the unemployment rate is measured in Australia by the ABS, and what it tells us about who's working, who's not, and why. We explore the key types of unemployment—cyclical, structural, and frictional—and explain related concepts like underemployment, hidden unemployment, and seasonal trends. Whether you're a student or simply curious about how labour markets work, this episode will help you understand the real stories behind the statistics.

Source: https://www.rba.gov.au/education/resources/explainers/