How many jobs are there in the world?
The number of jobs in the global economy is at its lowest level since records began in 1879, according to the Organisation for Economic Co-operation and Development (OECD), a joint group of the World Bank, the International Monetary Fund, the OECD and other governments.
It says the number of global jobs fell by 11.9 million between January and June, the worst since the recession of 2008-09.
“Jobless claims are down for the first time in almost two years,” OECD deputy chief economist Olivier Blanchard said in a statement.
The latest OECD data show a fall of 5.9 per cent since the first quarter of the year, the biggest drop in the 12 months to date.
Jobless claims have fallen in the past year, but this year’s figures are the worst in four years.
“The slowdown in job creation has not been as steep as in the first three quarters, but still is a worrying sign for the global labour market,” Mr Blanchar said.
It is not clear how many jobs were lost, but the number is likely to be far lower.
Australia’s jobless claims were the worst on record, at 6.6 million.
The figures show Australia had one of the biggest job losses of any major economy, with 4.7 million jobs lost in the six months to June.
The unemployment rate in Australia fell to 6.5 per cent, down from 7.2 per cent in the previous quarter.
Unemployment in the United States fell to 9.2 million, down a tenth of a per cent from 10.1 million in the same period.
Australia is also one of two countries that had no job growth in the quarter.
The US, meanwhile, saw employment increase by only 2.6 per cent to the equivalent of about 3.1 per cent of the population.
The UK has seen its jobless rate fall from 9.4 per cent the previous month to 8.1.3 per cent.
The unemployment rate is often used to gauge the strength of the economy and the extent of job losses.
But it is not the only measure of the state of the labour market.
A separate report from the Bureau of Labour Statistics (BLS) also released on Friday found that Australia’s unemployment rate dropped from 11.4 to 11.2.
Australia also has the highest level of long-term unemployment in the OECD, at 12.4 million people.
“Australia’s unemployment is among the highest in the Organisation,” Mr Blair said.
“This has to do with the weak labour market.”
The unemployment rates have remained low in the US, Canada and Europe for the past three years, but they have been falling faster in recent months.
The recent drop in unemployment was seen by some economists as a positive sign, and there was an increased belief that Australia could soon find a better balance between the needs of the unemployed and the labour force.
The Bureau of Statistics says the unemployment rate fell to 10.9% in the third quarter of 2017, down by 0.1 percentage points from the previous period.
The jobless figure also fell to a four-year low of 11.3% in December, the highest figure since the third period of the Great Recession.
But Mr Blancard said the recent decline was a sign of the weak state of Australian labour markets, and not a sign that Australia was going through a recovery.
“It was a bit of a mixed bag,” he said.
Australia has also seen a rise in the number who have given up looking for work.
More than 10 million people were considered to be “marginally attached” to the labour sector in May.
“A lot of those people are just having difficulty finding work,” Mr Brechard said.
The number that were “marginal attached” dropped from 10 million to 7.3 million in May, while the number that had been “marginelike” increased from 3.7 to 7 million.
However, Mr Brehard said that a key reason for the decline in the unemployment figures was that the number in the labour population had not been growing as fast as the number at work.
Mr Brehson said the unemployment figure would only tell part of the story.
“[The unemployment figures] can only tell a small part of our picture,” he told The World Today.
“What is important is to get an accurate picture of the underlying labour market, and that is the number on the jobless rolls.”
The labour force Participation rate, which measures the share of people who are either actively looking for or have given a reason for not looking for a job, has also been rising.
The participation rate rose from 61.7 per cent a year ago to 64.2 in June, while it has also fallen in every three months since the second quarter of last year.
This year, it was 59.1 percent.
The Labor Force Participation rate was also up by 0 .4 percentage points in May from the first half of last month.
As a result