Jobs growth is an important indicator of the economy’s health, which is why many people often welcome the news that employment is on the rise. Fortunately, the latest data from the Australian Bureau of Statistics (ABS) revealed 302,000 more people had jobs in January 2016 than the same period last year.
According to the ABS, full-time positions also increased, as an additional 169,800 individuals secured employment over the preceding 12 months. The changes mean 61.4 per cent of Australians are now in jobs, compared with 60.7 per cent in January 2015. Unemployment has slumped from 6.2 to 5.8 per cent during this time.
As more companies look to hire staff for key positions in their business, they may encounter skills gaps. This is particularly true in industries that have suffered while the economy changed gears, as they may have been forced to let go of highly qualified workers to maintain profitability.
If your business is struggling to find talented employees, you may wish to consider apprenticeships and traineeships. Organisations can experience a range of benefits from taking on apprentices and trainees, so register with Apprenticeship Central to learn more about the process and access the site’s full range of services.
Job vacancies increasing
Minister for Employment Michaelia Cash said her department’s Internet Vacancy Index showed 166,700 new vacancies were uploaded during January this year. She stated this was a 7.9 per cent increase compared with January 2015, which is the equivalent of 12,100 adverts.
“Particularly encouraging is that this increase in ads, along with other indicators of labour demand, took place across all but one occupational group, demonstrating the underlying resilience of the labour market,” she explained.
“The Australian economy has created almost 300,000 new jobs in the last year alone, with the female participation rate in November, for example, at an all-time high.”
Ms Cash also highlighted the ANZ Job Advertisement data for January, which recorded an 11.3 per cent rise in posted adverts over the preceding 12 months. In real terms, this meant 16,000 more vacancies were available.
She said the ANZ data, when combined with the Internet Vacancy Index figures, showed the country is extremely resilient despite the sluggish performance of the mining sector.
The employment minister also added that the federal government intends to continue rolling out its jobs plan, which will boost capacity and attract investment. These initiatives, she claimed, would improve employment across multiple industries in the country.