Australia’s labour market continues to adapt in the face of changing economic conditions, with our latest Employment Insights report offering a comprehensive look at recent trends and future challenges.
Key Highlights
- The unemployment rate remained steady at 4.2% in August, reflecting ongoing stability despite a slight dip in total employment.
- Part-time employment increased by 36,000, showcasing the workforce’s flexibility, while full-time roles eased as businesses adjusted to evolving needs.
- Online job ads fell by 4.2% in August, but remain about 20% above pre-pandemic levels, indicating continued demand for talent.
- The SEEK Employment Report shows a positive trend, with job ad volumes rising for the fourth consecutive month, especially in Hospitality & Tourism as businesses prepare for the busy summer period.
- The Reserve Bank of Australia notes that the labour market remains “a little tight,” with low rates of underutilisation and steady demand for workers.
Spotlight on construction
With the National Housing Accord aiming for 1.2 million new dwellings by 2029, the construction sector faces a significant skills challenge. Achieving this target will require a major expansion of the workforce—an additional 116,700 workers above baseline forecasts. This means sustained demand for skilled trades such as carpenters, plumbers, electricians, and others on the priority list.
Apprenticeships and training
Apprenticeship and traineeship contracts have declined by 7.9% over the past year, highlighting the need for renewed focus on skills development and training pathways to support future workforce needs.
Looking ahead
While there are signs of softness in some areas, the overall picture is one of resilience and opportunity. Businesses and job seekers alike can benefit from understanding these trends and preparing for the evolving landscape, especially in high-demand sectors such as construction and hospitality.
Read the full report for detailed analysis and actionable insights, and share these findings with your network to help everyone stay informed and ready for what’s next.
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