According to figures released by the Australian Bureau of Statistics (ABS) today, full-time employment has increased for the 13th consecutive month.
In trend terms, full-time employment grew by a further 16,000 jobs in October, while part-time employment increased by 4,000 jobs. This reflects the continued strength in employment growth in the Australian labour market.
“Full-time employment has now increased by around 289,000 jobs since October 2016, and makes up the majority of the 347,000 jobs net increase in employment over the period,” Chief Economist for the ABS, Bruce Hockman, said.
Minister for Employment, Senator the Hon Michaelia Cash, welcomed today’s positive figures, highlighting that more Australians are now in full-time work than ever before.
“Today’s statistics highlight that the Turnbull Government’s economic plan is working and is delivering a stronger economy, by backing small businesses, making record investments in infrastructure and ensuring reliable and affordable electricity,” Minister Cash said.
Snapshot (Seasonally Adjusted)
- Unemployment falls to four and a half year low at 5.4 per cent
- Monthly hours worked rose 0.3 per cent
- Participation rate decreased by 0.1 percentage points to 65.1 per cent
- Full-time jobs +24,300, part-time jobs -20,700. Net change in October +3,700
- Queensland the only state to gain jobs +12,600. Victorian employment -14,600
BUSY At Work’s Managing Director, Paul Miles was pleased to see full-time employment continue to increase.
“This is great news for Queensland and Australia’s economy and indicates strong confidence in the business sector.
“Full-time employment is the foundation for Australia’s workforce and in order to build a sustainable workforce we need to protect the future of our youth.
“There are many people working in part time jobs who are really struggling to make a living, due to the lack of hours.
The Government have some attractive incentives available aimed to decrease unemployment and help small to medium size businesses.
Mr Miles said incentives included resources such as training, mentoring and financial benefits.
“There are a number of financial incentives available for businesses, some very enticing, including the $20,000 Youth Boost incentive for employers willing to take on young people aged between 15 and 25, or other job seekers who have been out of work for over twelve months.”
The Youth Boost initiative is part of the Queensland Government’s Back to Work Program which provides support for employers who are willing to hire long term unemployed or young unemployed job seekers.
The Back to Work incentives gives small businesses the confidence to take on a new employee and provides an economic boost to our Queensland regions facing challenging times.
Leanne Macnamara, Public Relations Coordinator
0438 173 960 | email@example.com
More details are in the October 2017 issue of Labour Force, Australia (cat. no. 6202.0). In addition, further information, including regional labour market information, can be found in the upcoming October 2017 issue of Labour Force, Australia, Detailed – Electronic Delivery (cat. no. 6291.0.55.001), due for release on 23 November 2017.
These publications are available for free download (after release) from the ABS website: http://www.abs.gov.au.