Employment growth continues

Posted by Design & Construct on 19-Feb-2016 02:13:53

In Labour Hire

The trend in employment growth across Australia has continued according to the latest report by the Australian Bureau of Statistics (ABS)

Each month the ABS gives an estimated measure of the underlying behaviour of the labour market, for Australians over the age of fifteen. The statistics are compiled from the Labour Force Survey which is conducted throughout Australia as part of the ABS Household Survey Program. The Labour Force Survey is based on a sample of approximately 26,000 private residential dwellings and a sample of non-private dwellings such as hotels and motels.

General Manager of ABS' Macroeconomic Statistics Division, Bruce Hockman said,” The trend shows that around 302,000 more people were employed in January 2016 than in January 2015 and full-time employment growth was a bit stronger than part-time growth over the year, increasing by 169,800 people".

The Bureau of Statistics said the latest data show that unemployment fell from 6.2 to 5.8 per cent over the year in trend terms, while the employment to population ratio rose to 61.4 per cent.

Over the past month, trend employment increased by 19,800 persons to 11,909,900 persons, which equates to a monthly growth rate of 0.17 per cent. This growth rate was slightly above the monthly average seen over the past 20 years of 0.15 per cent and continues the recent trend in relatively strong employment growth. The seasonally adjusted number of persons employed decreased by 7,900 in January 2016, while the number of persons unemployed increased by 30,200.

The seasonally adjusted unemployment rate for January 2016 was 6.0 per cent (up 0.2 percentage points) and the seasonally adjusted labour force participation rate was unchanged at 65.2 per cent. The ABS seasonally adjusted monthly hours worked in all jobs series increased by 10.9 million hours (0.7 per cent) to 1,656.0 million hours. Although the seasonally adjusted figures deviate slightly from the estimated trend in January, unemployment is still lower than the same time last year and employment  is still showing steady growth.

State estimates

Trend employment growth in January 2016 was strongest in absolute terms in New South Wales (up 7,900 persons), but strongest in relative terms in the Australian Capital Territory (up 0.3%). The largest annual growth rates in trend employment were in New South Wales (4.7%) and Queensland (3.1%).

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References:
Australian Bureau of Statistics (2016). Retrieved 18 February, 2016 from http://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/6202.0Media%20Release1Jan%202016?opendocument&tabname=Summary&prodno=6202.0&issue=Jan%202016&num=&view=