Unemployment virtually unchanged in January

peer network of robust computers that oversee all Bitcoin transactions through a resourceintensive process called mining.

Those operating the networked computers, or miners, are compensated in Bitcoins for their efforts. However, approximately every four years, the number of Bitcoins awarded to a miner (or validator) is halved.

This adjustment serves several purposes. Bitcoin

Gareth Rhodes, former deputy superintendent at the New York State Department of Financial Services and managing director at research firm Pacific Street. “This aligns with expectations, as increased demand constraints typically result in price increases.”

In 2020, the reward decreased from 12.5 Bitcoin to 6.25. This year, anticipated in April, it will further diminish from 6.25 to 3.125.

Investors have ample

“The last month epitomizes the crypto experience,” remarked Trenchev. “Investors who purchased Bitcoin ETFs at the recent low of $US38,500 have reaped a 30 per cent profit, whereas those who entered at $US49,000 on January 11 endured a 20 per cent plunge and a trial by fire. Welcome to crypto — it’s not for the faint-hearted.”

It’s crucial to note that the information provided is of a general nature and does not constitute personal financial advice. Individual circumstances, financial situations, and needs must be considered before acting on any information provided.

In January 2024, the Australian labour market saw minimal change in ‘real’ unemployment, with 1,382,000 individuals (8.9% of the workforce) classified as unemployed.

Additionally, 1,618,000 people (10.4%) were under-employed, bringing the total of unemployed or underemployed individuals to a significant 3 million Australians (19.3% of the workforce).

Despite the high rates of unemployment and under-employment, the past year has witnessed a notable surge in employment, with a remarkable increase of 732,000 jobs, totalling 14,150,000 employed individuals. This marks the most substantial annual employment growth since the conclusion of the COVID-19 pandemic.

The January Roy Morgan Unemployment estimates, sourced from a cross-section survey of Australians aged 14 and above, classify individuals as unemployed if they are actively seeking employment, regardless of the duration of their search.

In January, the workforce slightly declined to 15,532,000 individuals, with

14,150,000 employed and 1,382,000 unemployed individuals. Fulltime employment decreased by 37,000 to 9,205,000, while part-time employment saw a modest increase of 12,000, reaching 4,945,000.

The number of unemployed individuals rose by 18,000, with 877,000 seeking parttime work and 505,000 looking for full-time employment.

While the workforce expanded by over 500,000 compared to the previous year, overall unemployment and under-employment slightly decreased by 0.1% points to 19.3% in January. The number of under-employed individuals, those working part-time but seeking additional work, decreased by 33,000 to 1.62 million.

Compared to the pre-COVID-19 period in early March 2020, January 2024 saw a significant increase of over 850,000 Australians classified as either unemployed or under-employed, despite the overall employment figure of 14,150,000 being nearly 1.3 million higher than the prepandemic level of 12,872,000.