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Mornington Peninsula's Labour Force Participation: A Snapshot of Employment Amidst Lockdowns
The proportion of people (aged 15 and over) who reported that they were either employed or unemployed and actively looking for work on the 10th of August for the 2021 Australian Census. It is important to note that on this date, Victoria was in lockdown, whilst NSW and ACT would follow in the next fortnight.Labour force participation data can be useful for property investors and those looking to move as it provides insights into the economic activity of a suburb. High labour force participation rates indicate a strong local economy with potential job opportunities, which can attract renters and homebuyers. On the other hand, low labour force participation rates may suggest a struggling local economy, which could impact property values and rental demand. For example, a property investor may use this data to identify suburbs with high labour force participation rates to target for investment. Similarly, a family looking to move may use this data to assess the job market in a suburb before making a decision to relocate. Data from 2021
