Which sectors are driving labour market strength?
Filled jobs across Australia surged by 1.6% in the September quarter of 2024, reaching a total of 15.9 million, according to data from the Australian Bureau of Statistics (ABS).
The number of filled jobs grew by 257,100 in the quarter, continuing a trend of robust job growth since the easing of COVID-19 restrictions in the December quarter of 2021.
"Since then, the number of filled jobs in the Australian labour market has grown by 1.5 million jobs or 10.7%," said David Taylor, ABS head of labour statistics, in a statement.
The growth in filled jobs was primarily driven by strong performances in the healthcare and social assistance sector. The industry saw an increase of 109,700 jobs, contributing to the overall rise.
"Health care and social assistance continued to be a key driver of labour market strength, with 4.3% growth in filled jobs this quarter and 11.4% annually," Taylor said. "This takes the total number of filled jobs in the industry to 2.6 million."
However, the labour market showed signs of moderation in other areas. Hours worked increased by just 0.8% in the September quarter, according to the ABS.
"Since the June quarter 2023, quarterly hours worked have softened and we're starting to see a more consistent relationship with other labour market measures like filled jobs and employment."
"Growth in filled jobs and hours worked since the December quarter 2021 are now very similar, with filled jobs rising 10.7% and hours worked up 11.0%."
By industry, manufacturing posted the largest quarterly rise in hours worked, up by 3.1%. However, the arts and recreation services sector experienced the largest decline, with a 2.5% drop in hours worked.
The multiple job-holding rate also saw a slight increase, rising by 0.1 percentage points to 6.6%, reflecting a 2.8% rise in multiple jobholders.
The number of employed people also increased by 1.1%, with 161,000 more people in employment, the report revealed.
Despite the overall increase in jobs, job vacancies fell 17.8% annually, although they remained 48.3% higher than pre-pandemic levels.
"Job vacancies fell a further 17.8% annually, but were still 48.3% higher than before the pandemic."
The findings come as Australia's unemployment rate continued going up in October to 3.7%, according to ABS data.
To further assist businesses to close their workforce gaps, the government recently unveiled a new Core Skills Occupation List, which covers over 450 occupations in construction, agriculture, cyber security, health, and education.
