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Unemployment in (Capital Region): A Snapshot of Joblessness Amidst Lockdowns
The proportion of people (aged 15 and over) who reported that they did not have a job of any kind in the week leading up to the 10th of August, but were actively looking for work during the four weeks prior to 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.Unemployment data can be useful for property investors and those looking to move as it provides insight into the economic health of a suburb. High unemployment rates may indicate a lack of job opportunities and potential financial instability, which could impact property values and livability. On the other hand, low unemployment rates may suggest a thriving local economy and a desirable place to live. For example, a property investor may use this data to identify suburbs with low unemployment rates and strong job growth potential, while someone looking to move may use it to find areas with a stable job market and good quality of life. Additionally, low unemployment rates may also indicate a higher level of community engagement and social cohesion, which can contribute to a more livable and desirable neighborhood.
When considering the top suburbs for unemployed individuals in the Capital Region, Rye Park, Bingie, and Wombat stand out with relatively higher unemployment rates. These areas had a significant proportion of individuals actively seeking work, particularly during the census period when Victoria was in lockdown, influencing employment opportunities across the region. Rye Park, with its highest unemployment rate, is particularly noteworthy for job seekers. Suburbs like Grabben Gullen and Toothdale also present higher-than-average unemployment rates, making them key areas of interest. The social and economic conditions, compounded by regional lockdowns in NSW and ACT shortly after the census, have played a substantial role in shaping these unemployment dynamics. These factors make Rye Park, Bingie, and Wombat critical suburbs for understanding unemployment trends in the Capital Region. Data from 2021
