Australia’s Employment Reaches Record-High in December

Australia’s job growth rose in December 2017 for the 15^th month in a row, after employers added 17,000 full-time workers and 8,000 part-time employees, according to the Australian Bureau of Statistics (ABS). In the last 12 months, the country added 400,000 new jobs, including around 322,000 full-time workers, said ABS chief economist Bruce Hockman. The continual increase in jobs means that national police checks in WA, NSW and other states have become more relevant for employers.

Employment Growth

The ABS said that employment in December reached a new record-high for job growth. By region, jobs in Queensland and the Australian Capital Territory registered the highest year-over-year increase at 4.6 percent in both areas. New South Wales followed with a 3.5 percent increase in jobs to 14,300 workers. Except for the Northern Territory, all states and territories’ trend jobless rates fell in the previous year. However, more Australians went to look for jobs, which caused the seasonally adjusted unemployment rate to hit 5.5 percent from 5.4 percent.

Participation Rates

The labour participation rate also reached a seven-year high in December after hitting 65.7 percent. The number of women in the workforce or looking for work also increased to 60.4 percent in the same period. The overall participation rate exceeded the economist expectations of 65.5 percent. In terms of salary growth, some analysts believe that the second half of 2018 will likely determine if there will be a recovery in wages. While jobs seemed abundant last year, the situation has failed to provide any real benefit to workers’ compensation.

Conclusion

A consistent job growth indicates the strength of the economy. In another perspective, this will require employers to conduct more background checks to make sure they hire the right person for the role.