Australian full-time employment growth continues

In BICSI Bytes by info@bicsi.com.au

Monthly trend full-time employment increased for the 10th straight month in July 2017, according to a recent Australian Bureau of Statistics (ABS) report, with full-time employment growing by a further 29,000 persons, while part-time employment decreased by 3,000 persons, underpinning a total increase in employment of 26,000 persons.

Full-time employment has increased by around 220,000 persons since September 2016, making up the majority of the 250,000-person increase in employment over the period.

Over the past year, trend employment increased by 259,000 persons (2.2%), which is above the average year-on-year growth over the past 20 years (1.9%).

The rate of employment growth (2.2%) was greater than the growth in the population aged 15 years and over (1.6%), which was reflected in an increase in the employment-to-population ratio (a measure of how employed the population is). This ratio increased by 0.4 percentage points since July 2016, up to 61.4%, the highest it has been since April 2013.

Over the past year the states/territories with the strongest growth in employment were Tasmania (4.0%), Victoria (3.1%) and Queensland (2.7%).

The trend monthly hours worked increased by 5.2 million hours (0.3%) to 1,696.4 million hours in July 2017.

The trend unemployment rate in Australia remained at 5.6% in July 2017, and the labour force participation rate remained at 65.0%.

The seasonally adjusted number of persons employed increased by 28,000 in July 2017. The seasonally adjusted unemployment rate was 5.6% and the labour force participation rate was 65.1%.