Seasonally adjusted figures released by the Australian Bureau of Statistics (ABS) today revealed a rise in the unemployment rate, from 5.7 per cent in November 2016 to 5.8 per cent this month.
It is not all negative news however as we saw the participation rate continue to climb, rising from 64.6 per cent last month to 64.7 per cent in January 2017.
In further good news, employment increased 13,500 to now stand at an impressive 11,985,900. This is a very positive sign given that the large majority (9,300) of this increase was full-time employment.
BUSY At Work CEO Paul Miles said while the increase in people participating in the labour force was encouraging, the 0.1 per cent increase in unemployment was a sure sign that we need to continue to invest in young people to help businesses create a sustainable workforce.
“As an Australian Apprenticeship Support Network Provider we are urging businesses to continue to invest in apprenticeships and traineeships as full time careers.
“With over 600 qualifications to choose from, apprenticeships and traineeships can help businesses increase efficiencies and productivity,” Mr Miles said.
BUSY At Work provides support for both the employer and the apprentice throughout the life of the apprenticeship. The Australian Government also provides support through incentives and funding for eligible employers and apprentices.
Queensland employers have further incentive to hire local young people after Premier Annastacia Palaszczuk recently announced the government would be doubling the $10,000 incentive for regional businesses who hire unemployed youth. The Back to Work ‘Youth Boost’ scheme which opened on 1 December and closes on 28 February 2017, now offers a $20,000 kick-back for regional businesses who hire unemployed youth.
Leanne Macnamara, Public Relations Coordinator
0438 173 960 email@example.com
More details are in the December 2016 release of Labour Force, Australia, Detailed, Quarterly (cat. no. 6291.0.55.003).
These publications are available for free download (after release) from the ABS website: http://www.abs.gov.au.