‘It’s not just a job’: The job market has hit ‘trendy’ lows
The Bureau of Statistics has been working hard to push back against the perception that Australia’s job market is hot, but the unemployment rate is still at a very high level.
Key points:Employment has hit its “trendiest” level since the recession, according to the ABS dataA report by the ABS shows there has been a rise in people leaving the workforce over the past few monthsThe unemployment rate for full-time workers has risen from 6.5 per cent in December to 6.8 per cent last month, while for part-time work it has risen by just 0.2 percentage points to 6 per centAAP’s data show the unemployment rates have fallen from 6 per day in December 2013 to just 2.3 days in December this yearThe ABS is tracking the labour market trends in the United States and Britain, and has a large number of countries to cover.
Australia is one of those, but it’s not all rosy.
According to the bureau, there were 8.5 million people working full- or part-year in February, up by almost two million from February last year.
And, with the job market being hot, the number of people working part- or full-year is rising as well.
“A significant portion of this growth has occurred since mid-December, with full- and part-timers contributing nearly 40 per cent of the increase in the past 12 months,” the ABS said.
“These figures are the first to show that full-term employment has been rising faster than part- and full-years in Australia, with many employers finding it difficult to find qualified staff to meet demand.”
Job growth and joblessnessThe ABS report shows that the number working part or full time has been on a steady rise over the last three years, with growth of nearly two million people since the mid-2016 recession.
The ABS also showed there were 7.6 million people aged 15 and over in the labour force in February this year, up 2.5 percent from February 2015.
“As Australia’s workforce continues to experience the effects of the global economic downturn, full-day labour force participation remains relatively high, but with the number on the job having decreased for several months, this trend is now being reversed,” the report said.