Job market evolving with resilient outlook
Australia’s job market is showing signs of adjustment. The unemployment rate remained steady at 4.1% in February, reflecting stability despite shifts in employment figures. Seasonally adjusted full-time employment declined by 35,700, while part-time employment decreased by 17,000.
Jobs and Skills Australia reported a 5.9% drop in online job ads in February (13,200 fewer ads), marking the largest monthly decline since late 2022. SEEK also noted a 1.8% dip in job ads following a strong January.
Despite these changes, the job market remains relatively healthy. The Federal Budget projects the unemployment rate to peak at 4.25%—a quarter of a percentage point lower than previously forecast in December, signaling resilience in the broader employment landscape.
This report uncovers what’s happening across Australia, examining how the workforce has been impacted, the challenges employers face in the current landscape, and trends in national recruitment activity.
