{"id":12609,"date":"2024-09-19T12:53:35","date_gmt":"2024-09-19T02:53:35","guid":{"rendered":"https:\/\/www.hiringlab.org\/au\/?p=12609"},"modified":"2025-03-29T03:01:08","modified_gmt":"2025-03-28T16:01:08","slug":"august-2024-au-labour-force-survey","status":"publish","type":"post","link":"https:\/\/www.hiringlab.org\/au\/blog\/2024\/09\/19\/august-2024-au-labour-force-survey\/","title":{"rendered":"August 2024 AU Labour Force Survey: Another Strong Month"},"content":{"rendered":"\n<p><strong><em>Key Points<\/em><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Australian employment rose strongly, up 47,500 people in August, consolidating recent stellar growth.\u00a0<\/li>\n\n\n\n<li>Australia\u2019s unemployment rate remained unchanged at 4.2% but has also increased by 0.5 percentage points over the past year. <\/li>\n\n\n\n<li>Australia\u2019s participation rate reached a record high of 67.1%, likely driven by cost-of-living pressures.\u00a0<\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/www.abs.gov.au\/statistics\/labour\/employment-and-unemployment\/labour-force-australia\/aug-2024\" target=\"_blank\" rel=\"noreferrer noopener\">Australian employment<\/a> rose by 47,500 people in August \u2013 <a href=\"https:\/\/au.investing.com\/economic-calendar\/employment-change-94\" target=\"_blank\" rel=\"noreferrer noopener\">above market expectations<\/a> \u2013 while the unemployment rate remained at 4.2%. The unemployment rate is tracking in line with the <a href=\"https:\/\/www.rba.gov.au\/publications\/smp\/2024\/aug\/outlook.html#3-5-detailed-forecast-information\" target=\"_blank\" rel=\"noreferrer noopener\">latest forecasts<\/a> from the Reserve Bank of Australia.<\/p>\n\n\n\n<p>Australia\u2019s unemployment rate is up 0.5 percentage points over the past year and that\u2019s a considerable increase over a short period of time. That this has occurred while Australian employment jumped 374,200 people highlights some of the risks surrounding the Australian job market. If employment growth eases then high population growth could trigger a big jump in the unemployment rate.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXfqSrpFPVdsZ7fSulXkhVHlIfrG0Hc_dsuyWpBbjZ-hqF0HwJ8i2m5pmMjk5cf3LlHlmacAbTNFdPdnp44n2BSB9v2MSKGLYQLtgFpMChU2yq4EjKK_w8BUQJDrSRHgmJSSCdL6RiiPv5XGsnMq8T-t3M-P?key=6SgNd6wQpa4CTJyT2u21UA\" alt=\"Line graph titled \u201cAustralian unemployment rate\u201d. With a vertical axis ranging from 0 to 8%, Australia\u2019s unemployment rate was unchanged at 4.2% in August.\" \/><figcaption class=\"wp-element-caption\"><em>Line graph titled \u201cAustralian unemployment rate\u201d. With a vertical axis ranging from 0 to 8%, Australia\u2019s unemployment rate was unchanged at 4.2% in August<\/em>.<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Part-time employment drives gains in August<\/strong><\/h2>\n\n\n\n<p>Employment gains in August were concentrated in part-time roles (+50,600 people), compared to a modest decline in full-time employment. That decline, however, shouldn\u2019t be viewed in a negative light given that full-time employment accounts for more than three-quarters of Australian employment gains this year. This is an economy that is still creating a lot of quality high-paying jobs.<\/p>\n\n\n\n<p>Overall, Australian employment increased by 374,200 people over the past year, which remains well above pre-pandemic trends. That\u2019s been driven by strong job creation, as <a href=\"https:\/\/data.indeed.com\/#\/postings\" target=\"_blank\" rel=\"noreferrer noopener\">seen on Indeed<\/a>, which remains elevated despite an otherwise challenging economic environment.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXfwKE_5bnc89bfvJmjZYNnjyMtRFqvaJVQFdIQNkLKFLAgKtb67lUN3DbY6Vqo1x2vHMC4mBk8s1TrmTZ2NAOg7TOQw_sTq8lt_PhzKl-GBDIErcscCq1vnU0QpqBLZZ5A4cGUdLzhIy5enoMMN7n0WURbZ?key=6SgNd6wQpa4CTJyT2u21UA\" alt=\"Bar graph titled \u201cChange in Australian employment\u201d. With a vertical axis ranging from -800,000 to 1,200,000, Australian employment rose by 374,200 people over the past year, remaining high by historical standards.\u00a0\" \/><figcaption class=\"wp-element-caption\">Bar graph titled \u201cChange in Australian employment\u201d. With a vertical axis ranging from -800,000 to 1,200,000, Australian employment rose by 374,200 people over the past year, remaining high by historical standards.\u00a0<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Australia\u2019s participation rate reaches new high<\/strong><\/h2>\n\n\n\n<p>Australia\u2019s participation rate increased further in August, reaching a new record high, which is impressive given that Australia\u2019s ageing population continues to place downward pressure on workforce participation. Plenty of job opportunities, the nation\u2019s cost-of-living crisis and older workers remaining in the workforce for longer has offset the impact of demographic factors on workforce participation.<\/p>\n\n\n\n<p>Whether rising participation in the workforce is a positive or negative economic development depends largely on what drives it. In recent decades, rising participation among women has reflected a more inclusive working environment and greater emphasis on work-life balance. Whereas the recent increase, perhaps due to cost-of-living pressures, perhaps reflects concerns around a person or household\u2019s financial livelihood.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXdBKasu4J7Dl4HovO8UDyZikMZrUm5opyX5JcFeYhhw3JPK0Spel78DhJ1sluH-k-Do7BfiQd8QrQRmdtHqMdyJc9vyS8h99BBetIL4E7EfI0vVnk9qbkdXBQ5WoxnoigboMYGPB6MRzHoXI6xp1jyBT-Zv?key=6SgNd6wQpa4CTJyT2u21UA\" alt=\"Line graph titled \u201cAustralian labour force participation rate\u201d. With a vertical axis ranging from\u00a0 60 to 68%, Australia\u2019s participation rate reached a record high of 67.1% in August and is well above pre-pandemic levels.\" \/><figcaption class=\"wp-element-caption\"><em>Line graph titled \u201cAustralian labour force participation rate\u201d. With a vertical axis ranging from\u00a0 60 to 68%, Australia\u2019s participation rate reached a record high of 67.1% in August and is well above pre-pandemic levels.<\/em><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Assessment and implications<\/strong><\/h2>\n\n\n\n<p>Australia\u2019s labour market remains tight and is proving highly resilient. The unemployment rate is low, employment growth is strong and forward-looking measures of labour demand remain solid. Australia\u2019s strong jobs market would give the RBA confidence that the nation is relatively well placed to absorb further rate hikes, if necessary.&nbsp;<\/p>\n\n\n\n<p>In the coming months, labour market measures will play a pivotal role in determining the direction of monetary policy, with the RBA looking for any significant deviation from forecasts to solidify their next move.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australian employment continues to surge higher, driven by strong job creation across most sectors. That\u2019s helped the nation absorb the impacts of cost-of-living pressures and other economic challenges.<\/p>\n","protected":false},"author":103,"featured_media":12610,"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-12609","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 v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>August 2024 AU Labour Force Survey: Another Strong Month - 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\/19\/august-2024-au-labour-force-survey\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"August 2024 AU Labour Force Survey: Another Strong Month - Indeed Hiring Lab Australia\" \/>\n<meta property=\"og:description\" content=\"Australian employment continues to surge higher, driven by strong job creation across most sectors. That\u2019s helped the nation absorb the impacts of cost-of-living pressures and other economic challenges.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.hiringlab.org\/au\/blog\/2024\/09\/19\/august-2024-au-labour-force-survey\/\" \/>\n<meta property=\"og:site_name\" content=\"Indeed Hiring Lab Australia\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-19T02:53:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-28T16:01:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.hiringlab.org\/au\/wp-content\/uploads\/sites\/6\/2024\/09\/Tech_analysts-at-desks-in-open-office-getty-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1710\" \/>\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\/19\/august-2024-au-labour-force-survey\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.hiringlab.org\/au\/blog\/2024\/09\/19\/august-2024-au-labour-force-survey\/\"},\"author\":{\"name\":\"ltheissen\",\"@id\":\"https:\/\/www.hiringlab.org\/au\/#\/schema\/person\/4b5c7a64267b1cb495fb45e90277f353\"},\"headline\":\"August 2024 AU Labour Force Survey: Another Strong Month\",\"datePublished\":\"2024-09-19T02:53:35+00:00\",\"dateModified\":\"2025-03-28T16:01:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.hiringlab.org\/au\/blog\/2024\/09\/19\/august-2024-au-labour-force-survey\/\"},\"wordCount\":546,\"image\":{\"@id\":\"https:\/\/www.hiringlab.org\/au\/blog\/2024\/09\/19\/august-2024-au-labour-force-survey\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/d341ezm4iqaae0.cloudfront.net\/hiringlaborg\/sites\/6\/2024\/09\/03043844\/Tech_analysts-at-desks-in-open-office-getty-scaled.jpg\",\"keywords\":[\"Multimedia\"],\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"en-AU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.hiringlab.org\/au\/blog\/2024\/09\/19\/august-2024-au-labour-force-survey\/\",\"url\":\"https:\/\/www.hiringlab.org\/au\/blog\/2024\/09\/19\/august-2024-au-labour-force-survey\/\",\"name\":\"August 2024 AU Labour Force Survey: Another Strong Month - 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