{"id":633698,"date":"2026-10-17T19:34:13","date_gmt":"2026-10-17T19:34:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/633698\/"},"modified":"2026-10-17T19:34:13","modified_gmt":"2026-10-17T19:34:13","slug":"australia-tipped-for-biggest-unemployment-rise-in-developed-world","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/633698\/","title":{"rendered":"Australia tipped for biggest unemployment rise in developed world"},"content":{"rendered":"

Australia is on track to record the largest rise in unemployment in the developed world, according to new projections from the International Monetary Fund (IMF).<\/p>\n

In its global outlook, the IMF found most economies have withstood turbulence from the past six months, whereas Australia was an outlier.<\/p>\n

The projected new figures suggest the brain drain to Australia is slowing, with New Zealand provisional data showing a net migration loss of 27,900 people in the year to March, compared to more than 31,000 a year earlier.<\/p>\n

Kiwi resorts to roadside sign as Australia\u2019s job market tightens – Watch on TVNZ+<\/a><\/p>\n

\"IMF<\/p>\n

IMF Research Deputy Director Petya Koeva Brooks. (Source: 1News)<\/p>\n

“We have a global economy that has been very resilient but we may be reaching the limits of some of that resilience,” IMF Research Deputy Director Petya Koeva Brooks said.<\/p>\n

Australia’s unemployment is forecast to rise from an average of 4.4% this year to 4.7% in 2027, with around 100,000 jobs at risk.<\/p>\n

In comparison, the report showed that while New Zealand’s current unemployment is higher, at 5.4%, it is expected to drop to 5.1% next year.<\/p>\n

Provisional figures showed a net migration loss of 27,900 in the year to March, compared to more than 31,000 the year before. (Source: 1News)<\/p>\n

Craig Pollard, a Kiwi living in Australia for the last 17 years, said the job market is getting tougher for him and his kids.<\/p>\n

“I [had] come up with the idea of doing a sign up and standing on the side of the road, with it saying ‘job wanted’,” Pollard said.<\/p>\n

\"Craig<\/p>\n

Craig Pollard, a Kiwi living in Australia. (Source: Supplied)<\/p>\n

“Another thing over here, it’s really hard to get a full time. I mean there’s so many casual positions but not that many full time.”<\/p>\n

The IMF predicted the main disruptor on global economies would be artificial intelligence.<\/a><\/p>\n

“We are seeing a fairly small number of countries that are benefitting from this AI related boom,” Brooks said.<\/p>\n

In an attempt to benefit from the boom in Australia, a joint parliamentary committee on AI called for immediate investment and the relaxing of copyright laws, allowing Australian AI companies to train models on both local and international content.<\/p>\n

\"A<\/p>\n

A joint parliamentary committee on AI called for immediate investment and the loosening of copyright laws in Australia. (Source: 1News)<\/p>\n

With fears that job opportunities will continue to be hard to come by, developments like AI are worrying for Pollard.<\/p>\n

“With all the new technology and the changes that are coming… especially for my children and that, trying to get them into positions where they can grow,” Pollard said.<\/p>\n","protected":false},"excerpt":{"rendered":"Australia is on track to record the largest rise in unemployment in the developed world, according to new…\n","protected":false},"author":2,"featured_media":633699,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[363,85,138,219,1122,111,139,69],"class_list":["post-633698","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-artificial-intelligence","tag-australia","tag-business","tag-economy","tag-employment","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/633698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=633698"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/633698\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/633699"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=633698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=633698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=633698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}