Strong employment trend recorded in Australia, especially in business services

by Ray Clancy on January 14, 2016

in Jobs in Australia

A strong trend in employment growth in Australia means that the country is likely to continue to be a strong draw for people from around the world looking for jobs.

The latest data from the Australian of Bureau of Statistics (ABS) shows that around 312,000 more people were employed in December 2015 than in December 2014.

jobs australiaFull time employment growth was stronger than part time over the year, increasing by 186,600, people meaning that unemployment is down under 6%.

The increase in employment has contributed to the trend employment to population ratio rising over the year from 60.6% to 61.4%, while the unemployment rate has decreased over the year from 6.2% to 5.8%.

Over the past month, trend employment increased by 27,500 persons to 11,893,800 persons, which translates into a monthly growth rate of 0.23% and this growth rate was above the monthly average over the past 20 years of 0.15%.

“It continues the trend in relatively strong employment growth that has been seen since December 2014. The trend series smooth the more volatile seasonally adjusted estimates and provide the best measure of the underlying behaviour of the labour market,” said Bruce Hockman, general manager of ABS’ macroeconomic statistics division.

The seasonally adjusted unemployment rate for December 2015 was 5.8%, down 0.1% based on unrounded estimates and the labour force participation rate was 65.1%, down 0.1%.

The seasonally adjusted number of persons employed was virtually unchanged in December 2015, while the number of people unemployed decreased by 10,900.

“Undoubtedly December was very good. The big point to make is, yes the labour market has improved and the economy is on a more sure footing. We created jobs through 2015 and a range of indicators backed that up,” said Peter Jolly, global head of research at National Australia Bank.

Quarterly figures for the three months to November 2015 show where job growth can be found. While mining is retrenching the services to business sector has seen the creation of 152,000 new jobs.

Employment in goods sectors including manufacturing and utilities fell 59,000 in the year to November but hiring in the services sector surged by more than 350,000 in the same period.

Growth in architectural, engineering and technical services has been concentrated in New South Wales and Victoria and put down to a booming home building sector and numerous infrastructure projects.

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