The state of the Australian labour market will be a focal point this week as the national statistics bureau releases its monthly jobs data. Australia has been experiencing record-low unemployment as competition for workers remains fierce. In August, the jobless rate lifted slightly to 3.5 percent as more people started looking for work after many bowed…
Annual Wages Growth in Australia Reaches 2.3 Percent, Still Below Inflation
The tightening labour market in Australia has put upward pressure on wages, but is still behind the current inflation rate. Australian Bureau of Statistics (ABS) has revealed that wages grew 2.3 percent over the past year after it accelerated to 0.7 percent in the December 2021 quarter. Both public and private sector wages picked up…
Australian Unemployment Rate Falls to 14-year Low
January 19, 2022
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The Australian unemployment rate for December 2021 fell to 4.2 percent, the lowest level since August 2008, just prior to the start of the Global Financial Crisis. Data from the Australian Bureau of Statistics (ABS) revealed that around 65,000 jobs were created during the month, of which approximately two-thirds were filled by men and one-third…
Self-Driving Trucks and Small Grocers Can Protect Food Supply Chain From Future Shocks: Experts
January 17, 2022
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Experts are saying that the food supply chain issues were caused by a “perfect storm” of labour issues after COVID-19 restrictions prevented many people from entering the country while at the same time causing an exodus of migrants. Andrew Timming, a professor of human resource management at RMIT University, told The Epoch Times that Australian…
Australian Labour Market in 2021 Was a Year of Highs and Lows: SEEK
Australian employment marketplace SEEK characterised the 2021 job market as a year of highs and lows; record-breaking job ad numbers, lowest ever applications per job, and lockdowns impacting the market. Kendra Banks, managing director of SEEK ANZ, said the platform saw more job ads than ever before. “Each state and territory recorded the highest number…
How Has Australian Life Changed Over the Last 20 Years?
December 8, 2021
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The Household Income and Labour Dynamics (HILDA) survey by the University of Melbourne gives insights into how Australian life and attitudes have changed over the last 20 years. The survey tracks the lives of largely the same group of 17,000 Australians, with the latest statistical report revealing various trends that emerged between 2001 and 2019….
RBA Holds Cash Rate at Record Low, But Moves to Taper Monetary Stimulus
The Reserve Bank of Australia (RBA) has decided to hold the cash rate at a record low of 0.1 percent, reiterating its expectation to keep it unchanged until 2024. However, the central bank will scale back its response to the stronger-than-expected economic recovery. The change means the RBA is tapering off its massive monetary stimulus…
Businesses Lament Being Unable to Find Staff As Skill Shortage in Australia Kicks In
Over one-quarter of Australian businesses are struggling to find suitable staff to fill job voids, the Australian Bureau of Statistics (ABS) revealed in its June Insights into business conditions and sentiments. ABS Head of Industry Statistics John Shepherd said 74 percent of businesses cited lack of applicants as a reason why they struggled to find…
Australia’s Economy Has Exceeded Expectations: RBA
May 7, 2021
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The Reserve Bank of Australia (RBA) has published its quarterly monetary policy statement revealing that Australia has fared much better in the economic downturn caused by the CCP virus pandemic. “The economy has exceeded all of the upside scenarios that we had described,” RBA Deputy Governor Guy Debelle said on May 6, a day before…
Automation to Wipe 1.5 Million Australian Jobs by 2030: Report
February 23, 2021
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Artificial intelligence (AI) and automation will reshape Australia’s workforce and push out 1.5 million workers, or 11 percent of the labour market, by 2030, according to a new report from business and technology consultants Forrester Research. Analysing 391 occupations, Forrester found that over the next nine years, jobs involving highly structured administrative tasks, such as those in finance…
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