{"id":5623,"date":"2017-08-23T09:30:47","date_gmt":"2017-08-22T23:30:47","guid":{"rendered":"https:\/\/roubler.com\/au\/?p=5623"},"modified":"2018-10-11T15:06:11","modified_gmt":"2018-10-11T04:06:11","slug":"australias-job-growth","status":"publish","type":"post","link":"https:\/\/roubler.com\/au\/resources\/blog\/australias-job-growth\/","title":{"rendered":"Australia’s Job Growth Continues"},"content":{"rendered":"

Australia’s job growth has continued throughout July. Over 27,000 jobs were added to the Australian economy over the last month, the latest ABS Labour Force<\/a> statistics reports. This surpassed economists\u2019 estimates of an added 20,000 for the month. The figures put the total number of jobs added over the past year at 259,200.<\/p>\n

The trend employment to population ratio \u2013 which measures the level of employment in over 15-year-olds \u2013 grew by 0.4 points to 61.4% over the same year. This is the highest the figure has been since April 2013.<\/p>\n

Unemployment rate steady yet again<\/strong><\/h3>\n

The unemployment rate saw a very minor drop to 5.6% after the ABS revised June\u2019s rate up to 5.7%<\/a>. Economists dub 5% unemployment as \u201cfull employment\u201d, and Australia\u2019s labour force is getting close to such a figure.<\/p>\n

National Australia Bank economist Tapas Strickland told the AFR that it is possible for us to hit the figure.<\/p>\n

“It is likely that the unemployment rate will track lower given trend employment growth is well above the break-even level of 15,500 a month needed to keep the unemployment rate unchanged,” he told the AFR.<\/p>\n

The number of people either in a job or actively looking for one rose to 65.1%.<\/p>\n

\"Australia's

Source: ABS<\/p><\/div>\n


\nTrend estimates still point to full-time job growth<\/strong><\/h3>\n

Although the seasonally adjusted estimates saw a 20,300 drop in full time employment, the trend estimates still point to growth in those employed full-time.<\/p>\n

“Full-time employment has now increased by around 220,000 persons since September 2016, and makes up the majority of the 250,000 person increase in employment over the period,” Bruce Hockman, Chief Economist for the ABS, said.<\/p>\n

TD Securities chief Asia-Pacific Strategist Annette Beacher told the ABC that the full-time job growth is focused in a few particular industries.<\/p>\n

\u201cThe acceleration in full-time jobs has been skewed towards professionals, construction and health, while part-time jobs tend to be skewed towards retail and health,\u201d she said to the ABC.<\/p>\n

Australia’s job growth – a h<\/strong>ealthy labour market<\/strong><\/h3>\n

All states saw trend employment growth. New South Wales and Queensland saw large employment growth, up 10,600 and 8,300 jobs respectively. The ACT\u2019s figures remained steady and the Northern Territory went down 1,600 persons.<\/p>\n

All states and territories, except the Northern Territory, have experienced increases in employment over the past year.<\/p>\n

The ABS noted that the past year\u2019s trend employment growth of 2.2% (or 259,000 people) is above the mean growth of 1.9% experienced over the last two decades. This indicates a healthy labour market.<\/p>\n

Underemployment still plaguing<\/strong><\/h3>\n

However, Labor\u2019s employment spokesperson Ed Husic was less focused on Australia’s job growth. He drew attention to the rate of underemployment, which suggests people want more work than they can currently get.<\/p>\n

“People feel like they’re not getting enough hours and their wages aren’t moving either,” he said to the AFR.<\/p>\n

“We need to see the creation of more secure work, that people actually feel like they can hold onto their jobs or they’re getting the amount of hours that they think is satisfactory. And there has got to be a game plan on wages.”<\/p>\n

 <\/p>\n

 <\/p>\n

If your workforce is growing, now is the perfect time to manage your time and attendance<\/a> and payroll<\/a> better! Roubler is Australia’s only HR cloud software managing the full employment life-cycle from recruiting and assessing applicants, to managing time and attendance, payroll and business intelligence. Find out more here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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