Employers are continuing to hire in record numbers in Australia with 4.7% new jobs created since 2013 and a plan underway to boost jobs in the hard hit resources sector.
The latest figures show that the seasonally adjusted unemployment rate dropped from 5.8% to 5.7% in January with an increase in employment of 13,500 and the number of Australians employed reaching a record high of 11,998,200.
Minister for Employment, Michaelia Cash, said the January statistics from the Australian Bureau of Statistics demonstrate that the Australian economy’s resilience, despite undergoing a significant transition.
She pointed out that the Government has a policy agenda that is firmly focused on encouraging investment, promoting growth and supporting job creation.
The largest improvements in jobs were seen in the mining states of Western Australia and Queensland and helped by a sharp uplift in commodity prices and experts believe that it represents a signal that the slump in jobs in the resources sector may have levelled off.
The ABS data shows that the largest increases in employment were in Western Australia with a rise of 15,100 and Queensland up 8,500 but there were falls of 13,800 in New South Wales and 9,800 in Victoria.
New South Wales saw a 0.2% drop in the jobless rate to a low of 5% and Victoria recorded a 0.3% improvement in its unemployment rate to 5.7% while in Tasmania the jobless rate was down 0.7% to 5.6% and in South Australia down 0.4% to 6.4%.
‘January’s labour market figures highlight that jobs growth has sustained its recent momentum. The 13,500 gain in employment was the fourth decent rise in as many months and, despite the annual growth rate having remained below 1% per cent, shows that the labour market has strengthened from the weak patch seen last year,’ said Capital Economics chief Australian economist Paul Dales.
Meanwhile, National Energy Resources Australia (NERA) has developed a 10-year plan for Australia’s oil, gas, coal and uranium energy resources industries designed to help ensure a strong future and boost jobs.
‘I welcome this plan to provide a long term road map for the sector, to ensure it continues to create jobs and opportunities in regional Australia,’ said Matt Canavan, Minister for Resources and Northern Australia.