{"id":12592,"date":"2024-09-06T16:28:35","date_gmt":"2024-09-06T06:28:35","guid":{"rendered":"https:\/\/www.hiringlab.org\/au\/?p=12592"},"modified":"2024-09-10T09:41:57","modified_gmt":"2024-09-09T23:41:57","slug":"q2-au-labour-account-despite-some-declines-job-creation-remains-strong","status":"publish","type":"post","link":"https:\/\/www.hiringlab.org\/au\/blog\/2024\/09\/06\/q2-au-labour-account-despite-some-declines-job-creation-remains-strong\/","title":{"rendered":"Q2 AU Labour Account: Despite Some Declines, Job Creation Remains Strong"},"content":{"rendered":"\n<p><strong>Key Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Australian job vacancies fell 3.5% in the June quarter, the seventh consecutive quarterly decline, and were down 17.3% over the year.<\/li>\n\n\n\n<li>Australia\u2019s job vacancy rate eased to 2.2% in the June quarter, ranging from 3.7% for accommodation &amp; food services to 0.5% in agriculture.<\/li>\n\n\n\n<li>The number of Australians working multiple jobs declined 1.2%, to 961,400.<\/li>\n<\/ul>\n\n\n\n<p>Australia\u2019s <a href=\"https:\/\/www.abs.gov.au\/statistics\/labour\/labour-accounts\/labour-account-australia\/jun-2024\" target=\"_blank\" rel=\"noreferrer noopener\">job vacancy rate<\/a> eased to 2.2% in the June quarter, still well above the 1.4% average rate from 2010 to 2019. Competition for talent has eased considerably but by no means has it returned to normal. Skill and talent shortages remain quite common and many businesses continue to find recruitment challenging. This is still a job market that is quite favourable to jobseekers.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043849\/Job-vacancy-rate-1024x559.png\" alt=\"Line graph titled \u201cAustralian job vacancy rate\u201d. With an x-axis ranging from 0 to 4%, Australia\u2019s job vacancy rate eased to 2.2% in the June quarter, still well above the 1.4% average from 2010 to 2019.\" class=\"wp-image-12593\" srcset=\"https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043849\/Job-vacancy-rate-1024x559.png 1024w, https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043849\/Job-vacancy-rate-300x164.png 300w, https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043849\/Job-vacancy-rate-768x419.png 768w, https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043849\/Job-vacancy-rate-1536x839.png 1536w, https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043849\/Job-vacancy-rate.png 1650w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><em>Line graph titled \u201cAustralian job vacancy rate\u201d. With an x-axis ranging from 0 to 4%, Australia\u2019s job vacancy rate eased to 2.2% in the June quarter, still well above the 1.4% average from 2010 to 2019.<\/em><\/figcaption><\/figure>\n\n\n\n<p>Australia\u2019s job vacancy rate fell in 13 of 19 industry categories, but some prominent industries bucked the national trend. Restaurants continue to struggle to find staff, with the vacancy rate for accommodation &amp; food services spiking to 3.7% (from 3.0% last quarter). It also jumped considerably for professional services (from 2.7% to 3.1%). The vacancy rate continues to ease in key sectors such as healthcare &amp; social assistance and education &amp; training.<\/p>\n\n\n\n<p>The job vacancy rate remains above the 2010 to 2019 average in all but two industries. Only financial &amp; insurance services and administrative &amp; support services have a vacancy rate that appears relatively low by historical standards.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"678\" src=\"https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043849\/Industry-vacancy-rate-1024x678.png\" alt=\"Bar graph titled \u201cAustralian job vacancy rate by industry\u201d. With a y-axis ranging from 0 to 5%, Australia\u2019s job vacancy rate in the June quarter was highest in accommodation &amp; food services, mining, and electricity, gas, water &amp; waste services.\" class=\"wp-image-12594\" srcset=\"https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043849\/Industry-vacancy-rate-1024x678.png 1024w, https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043849\/Industry-vacancy-rate-300x199.png 300w, https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043849\/Industry-vacancy-rate-768x509.png 768w, https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043849\/Industry-vacancy-rate-1536x1017.png 1536w, https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043849\/Industry-vacancy-rate.png 1650w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><em>Bar graph titled \u201cAustralian job vacancy rate by industry\u201d. With a y-axis ranging from 0 to 5%, Australia\u2019s job vacancy rate in the June quarter was highest in accommodation &amp; food services, mining, and electricity, gas, water &amp; waste services.<\/em><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Multiple job holders decline<\/strong><\/h2>\n\n\n\n<p>In the June quarter, roughly 6.5% of all people with a job \u2014 some 961,400 people \u2014 had <a href=\"https:\/\/www.abs.gov.au\/statistics\/labour\/jobs\/multiple-job-holders\/jun-2024#industry\" target=\"_blank\" rel=\"noreferrer noopener\">multiple jobs<\/a>, down from 6.7% in the previous quarter. The decline was driven by the education, public administration and retail sectors.\u00a0<\/p>\n\n\n\n<p>Multiple job holders are most common in administrative &amp; support services (9.5% of workers), ahead of agriculture, forestry &amp; fishing (8.9%) and arts &amp; recreation (8.4%). Some industries lend themselves more readily to people working multiple jobs. It\u2019s quite common for people to have multiple seasonal jobs on farms, for example, and labour hire workers might provide some administrative services across multiple businesses.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"688\" src=\"https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043847\/Multiple-jobs-2-1024x688.png\" alt=\"Bar graph titled \u201cAustralian multiple job holders by industry\u201d. With a y-axis ranging from 0 to 10%,\u00a0 people with multiple jobs are most commonly found in administrative &amp; support services, agriculture, forestry &amp; fishing and arts &amp; recreation.\" class=\"wp-image-12597\" srcset=\"https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043847\/Multiple-jobs-2-1024x688.png 1024w, https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043847\/Multiple-jobs-2-300x202.png 300w, https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043847\/Multiple-jobs-2-768x516.png 768w, https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043847\/Multiple-jobs-2-1536x1032.png 1536w, https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043847\/Multiple-jobs-2.png 1650w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><em>Bar graph titled \u201cAustralian multiple job holders by industry\u201d. With a y-axis ranging from 0 to 10%,\u00a0 people with multiple jobs are most commonly found in administrative &amp; support services, agriculture, forestry &amp; fishing and arts &amp; recreation.<\/em><\/figcaption><\/figure>\n\n\n\n<p>Cost-of-living pressures continue to make things difficult for Australian households, creating a need for extra work among many workers struggling to manage mortgages, rent, electricity and\/or food costs. People will continue to seek more hours \u2014 either in an existing job or via an additional job \u2014 to deal with these cost pressures. Consequently, despite the decline in the June quarter, the share of workers with multiple jobs may trend higher over the next year or two.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Assessment and implications<\/strong><\/h2>\n\n\n\n<p>The latest job vacancy figures clearly show that while the job market continues to slow, it also remains remarkably resilient given the overall economic environment. Strong job creation suggests that employment growth should remain solid in the near term, supporting the overall economy.<br>However, labour market conditions typically lag shifts in economic activity. The Australian economy <a href=\"https:\/\/www.abs.gov.au\/statistics\/economy\/national-accounts\/australian-national-accounts-national-income-expenditure-and-product\/latest-release\" target=\"_blank\" rel=\"noreferrer noopener\">overall is struggling<\/a>, and that presents a considerable risk to the labour market outlook.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian job market continues to slow, with the job vacancy rate falling for seven consecutive quarters. Despite that, Australian job creation remains excellent by historical standards, particularly given a very challenging economic environment.<\/p>\n","protected":false},"author":41,"featured_media":12553,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"recruiter-hub-blocks.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[141],"post_mwm_category":[224],"post_topic":[],"post_content_type":[],"post_duration":[],"post_actions":[],"post_franchise":[],"post_mwm_author":[182],"class_list":["post-12592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-multimedia","post_mwm_category-state-of-the-labour-market","post_mwm_author-cpickering"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Q2 AU Labour Account: Despite Some Declines, Job Creation Remains Strong - Indeed Hiring Lab Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hiringlab.org\/au\/blog\/2024\/09\/06\/q2-au-labour-account-despite-some-declines-job-creation-remains-strong\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Q2 AU Labour Account: Despite Some Declines, Job Creation Remains Strong - Indeed Hiring Lab Australia\" \/>\n<meta property=\"og:description\" content=\"The Australian job market continues to slow, with the job vacancy rate falling for seven consecutive quarters. Despite that, Australian job creation remains excellent by historical standards, particularly given a very challenging economic environment.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.hiringlab.org\/au\/blog\/2024\/09\/06\/q2-au-labour-account-despite-some-declines-job-creation-remains-strong\/\" \/>\n<meta property=\"og:site_name\" content=\"Indeed Hiring Lab Australia\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-06T06:28:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-09T23:41:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.hiringlab.org\/au\/wp-content\/uploads\/sites\/6\/2024\/06\/Office_Workspaces_person-sitting-in-office-doing-research-on-laptop-getty19.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1700\" \/>\n\t<meta property=\"og:image:height\" content=\"1133\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Callam Pickering\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.hiringlab.org\\\/au\\\/blog\\\/2024\\\/09\\\/06\\\/q2-au-labour-account-despite-some-declines-job-creation-remains-strong\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.hiringlab.org\\\/au\\\/blog\\\/2024\\\/09\\\/06\\\/q2-au-labour-account-despite-some-declines-job-creation-remains-strong\\\/\"},\"author\":{\"name\":\"Callam Pickering\",\"@id\":\"https:\\\/\\\/www.hiringlab.org\\\/au\\\/#\\\/schema\\\/person\\\/cf678ee0c33f8efd813e6f97d1490170\"},\"headline\":\"Q2 AU Labour Account: Despite Some Declines, Job Creation Remains Strong\",\"datePublished\":\"2024-09-06T06:28:35+00:00\",\"dateModified\":\"2024-09-09T23:41:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.hiringlab.org\\\/au\\\/blog\\\/2024\\\/09\\\/06\\\/q2-au-labour-account-despite-some-declines-job-creation-remains-strong\\\/\"},\"wordCount\":580,\"image\":{\"@id\":\"https:\\\/\\\/www.hiringlab.org\\\/au\\\/blog\\\/2024\\\/09\\\/06\\\/q2-au-labour-account-despite-some-declines-job-creation-remains-strong\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/d341ezm4iqaae0.cloudfront.net\\\/hiringlaborg\\\/sites\\\/6\\\/2024\\\/06\\\/03043901\\\/Office_Workspaces_person-sitting-in-office-doing-research-on-laptop-getty19.jpg\",\"keywords\":[\"Multimedia\"],\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"en-AU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.hiringlab.org\\\/au\\\/blog\\\/2024\\\/09\\\/06\\\/q2-au-labour-account-despite-some-declines-job-creation-remains-strong\\\/\",\"url\":\"https:\\\/\\\/www.hiringlab.org\\\/au\\\/blog\\\/2024\\\/09\\\/06\\\/q2-au-labour-account-despite-some-declines-job-creation-remains-strong\\\/\",\"name\":\"Q2 AU Labour Account: Despite Some Declines, Job Creation Remains Strong - 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