MAY QTR 2014 – AUSTRALIAN JOB PROFILE

Originally published in “The Australian”

During the 12 months to May 2014, YoY employment growth was 99,400, unemployment growth was 43,000 and Not in the Labour Force growth was 197,500. Given our long term participation and unemployment rates of about 65 percent and 5 percent respectively, we should have seen employment growth of 210,000, unemployment growth of 10,000 and Not in the Labour Force growth of 120,000. So our employment growth was about 110,000 too low, employment growth was 30,000 too high and Not in the Labour Force was 80,000 too high.

Demographic Winners & Losers in 2014

We have been saying for some time that any improvement in the labour market could be identified by a rise in employment numbers, accompanied by a rise in the unemployment rate and this time may have finally arrived. What has been needed since the GFC is a surge in private sector jobs growth, strong enough to induce some of the hidden unemployed back into the ranks of the official job seekers. It is still early days but the November quarter labour market figures look encouraging.

The past 12 months saw big job gains for Hospitality (Accommodation and Food), Professional Consulting, Construction, Arts and Recreation, Real Estate, Media, Transport and Education and these outnumbered losses in Mining, Manufacturing, Utilities, Wholesale, Public Admin and Health.

Read Full Report :   ADS Jobs Profile Nov Qtr 2014 final.pdf

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Map provided by Business Geographics Pty Ltd
Disclaimer: The Labour Market reports and associated maps have been prepared as an educational and public relations exercise and have not been designed as an advisory tool for business and we take no responsibility for those who use either of them for these purposes. The sampling errors for smaller Labour Force regions are often large and the raw figures used cannot be easily adjusted for seasonal trends. The statistical significance of the profiles also need to be considered. We repeat, caution is urged in any interpretation of these statistics. We acknowledge and thank the Australian Bureau of Statistics for the provision of original data, Dr Otto Helwig of MDS for the HES micro simulation modelling and Phil Henry of Business Geographics for the mapping.