{"id":12629,"date":"2024-12-07T03:31:58","date_gmt":"2024-12-06T16:31:58","guid":{"rendered":"https:\/\/www.hiringlab.org\/au\/?p=12629"},"modified":"2025-01-17T04:43:26","modified_gmt":"2025-01-16T17:43:26","slug":"q3-au-labour-account","status":"publish","type":"post","link":"https:\/\/www.hiringlab.org\/au\/blog\/2024\/12\/07\/q3-au-labour-account\/","title":{"rendered":"Q3 AU Labour Account"},"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 September quarter, the eighth consecutive quarterly decline.\u00a0<\/li>\n\n\n\n<li>Job creation is heavily concentrated in government-aligned industries, particularly healthcare &amp; social assistance.\u00a0<\/li>\n\n\n\n<li>Around 6.6% of workers \u2014 or around 986,000 people \u2014 have two or more jobs, up from 6.5% in the June quarter.\u00a0<\/li>\n<\/ul>\n\n\n\n<p>The number of Australian job vacancies fell 3.5% to 337,700 in the September quarter, and they have declined by 17.8% over the past year.<\/p>\n\n\n\n<p>That decline left Australia\u2019s job vacancy rate at 2.1% in the September quarter, still well above the 1.4% average rate from 2010 to 2019. Labour demand continues to normalise, but gradually, which has helped the nation absorb the impacts of cost\u2013of\u2013living pressures and other economic challenges.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXen2xcF-7F1V0xymlMD9ZlfkxqvgqFHC9cicweSU2t70VUVJdDXwdFiccZt5QOmOJt1TkjqTz_JyoIXiWc3ZA_fGwQ4lnd806P2Q09k45FJH5_4R2Fq68mBOzCK6P9H0OGHbhB7rQ?key=rtDqHktHLeVMtrfq9hsynImt\" 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 2.1% in the September quarter, still well above the 1.4% average from 2010 to 2019.\" \/><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 2.1% in the September 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 10 of the 19 industry categories in the September quarter. Some prominent industries bucked the national trend, with the vacancy rate in education and construction increasing. The most significant declines came from accommodation &amp; food services, where the vacancy rate eased from 3.5% in the June quarter to 2.8% in the September quarter, along with the retail sector (at 1.7%, down from 2.1%).&nbsp;<\/p>\n\n\n\n<p>The vacancy rate is highest in the mining sector, at 3.5% of industry jobs, owing to the remote geographical location of many of these roles. More problematic vacancies are those in utilities (3.1%), professional services (2.9%) and accommodation &amp; food services (2.8%), with businesses in these industries often operating below ideal staffing capacity.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXfrmbe4FWSCZMoDiaM3DtEVrovsT9nkI95m1Zb-SZtpaqn_cYz2k06olwdRWXwdaRGi-IvE4w8RYHWHElPBl2s2MbpqFs981PtdEu3iiIW_R9yozfYTFm3zpMNM__LophJcS3ZFxQ?key=rtDqHktHLeVMtrfq9hsynImt\" alt=\"Bar graph titled \u201cAustralian job vacancy rate by industry.\u201d WIth a y\u2013axis ranging from 0 to 4%, Australia\u2019s job vacancy rate in the September quarter was highest in mining and electricity, gas, water &amp; waste services.\u00a0\" \/><figcaption class=\"wp-element-caption\"><em>Bar graph titled \u201cAustralian job vacancy rate by industry.\u201d WIth a y\u2013axis ranging from 0 to 4%, Australia\u2019s job vacancy rate in the September quarter was highest in mining and electricity, gas, water &amp; waste services.\u00a0<\/em><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Government\u2013aligned industries driving jobs growth<\/h2>\n\n\n\n<p>Australia\u2019s labour market continues to be driven by government spending. This was readily apparent in the <a href=\"https:\/\/www.abs.gov.au\/media-centre\/media-releases\/australian-economy-grew-03-cent-september-quarter\" target=\"_blank\" rel=\"noreferrer noopener\">latest GDP figures<\/a> and also clear in the latest job market trends.<\/p>\n\n\n\n<p>Over the past year, government\u2013aligned industries, such as healthcare &amp; social assistance, education and public administration &amp; safety, accounted for more than 80% of all job growth.<\/p>\n\n\n\n<p>Healthcare &amp; social assistance by itself accounts for 57% of job growth, reflecting the ongoing expansion of the National Disability Insurance Scheme (NDIS) and the impacts of Australia\u2019s ageing population, which is creating tremendous demand for doctors, nurses and aged care workers.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXc-aSvBD7OX7JMSbvoCf2LQYawcEVbDiH3lKewX1Sf-8WeNVwiIJ7YekEd--hki_jD-eEHdQFrzpCpshS9VKcspcJ9eT2B0Z2dPLE4PFQJPcryLZamZcmhFb3xOOcpWifGknbNbYA?key=rtDqHktHLeVMtrfq9hsynImt\" alt=\"Bar and line graph titled \u201cAustralian jobs growth.\u201d WIth a y\u2013axis ranging from \u20136 to 9%, Australian job growth has been dominated over the past year by government\u2013aligned industries, such as healthcare &amp; social assistance, education and public administration &amp; safety.\u00a0\" \/><figcaption class=\"wp-element-caption\"><em>Bar and line graph titled \u201cAustralian jobs growth.\u201d WIth a y\u2013axis ranging from \u20136 to 9%, Australian job growth has been dominated over the past year by government\u2013aligned industries, such as healthcare &amp; social assistance, education and public administration &amp; safety.\u00a0<\/em><\/figcaption><\/figure>\n\n\n\n<p>This trend highlights the growing gulf between Australia\u2019s public and private sectors. Government spending drives the former, often insulating them from market conditions. Even private operators in these industries, such as private schools, receive considerable government money. Meanwhile, the private sector feels the full force of economic headwinds. If federal and state governments were to curtail spending next year, then, in all likelihood, the Australian labour market would grind to a halt.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Multiple job holders rise<\/h2>\n\n\n\n<p>In Australia, 6.6% of workers \u2014 around 986,000 people \u2014 have two or more jobs. While that number is slightly below its peak of 6.7% in the June quarter last year, it remains well above the 5-6% range common in the first two decades of this century.<\/p>\n\n\n\n<p>Cost\u2013of\u2013living pressures continue to make things difficult for Australian households, creating the need for extra work to manage mortgages, rents, electricity and 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.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXc3pYU0ZFAnKv314bMcqP9lNWV__OJOrazvO_vjo-NJt7SQPgu84CY3yskgmMA1TGo5AJuAzll-YI8xvfTcthfcyLAvK5StyVy7T4f4xkHXaIUgk6x1BHOkZakxIwnS8UiSBMIFQQ?key=rtDqHktHLeVMtrfq9hsynImt\" alt=\"Line graph titled \u201cMultiple job holders in Australia.\u201d WIth a y\u2013axis ranging from 3 to 7%,\u00a0the share of Australian workers with multiple jobs increased to 6.6% in the September quarter, remaining well above its historical average.\" \/><figcaption class=\"wp-element-caption\"><em>Line graph titled \u201cMultiple job holders in Australia.\u201d WIth a y\u2013axis ranging from 3 to 7%,\u00a0the share of Australian workers with multiple jobs increased to 6.6% in the September quarter, remaining well above its historical average.<\/em><\/figcaption><\/figure>\n\n\n\n<p>Multiple job holders are most common in administrative &amp; support services and agriculture, forestry &amp; fishing (8.9%% of workers for both industries), ahead of arts &amp; recreation (8.4%) and healthcare &amp; social assistance (7.7%).<\/p>\n\n\n\n<p>The average person with multiple jobs works around 39 hours a week, compared to almost 35 hours a week for those with a single job. Men with multiple jobs work on average 44 hours a week \u2014 with one of those roles typically full\u2013time \u2014 compared to almost 35 hours a week for women.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Assessment and implications<\/h2>\n\n\n\n<p>The latest labour force figures show that while the Australian job market is undeniably tight and job creation is strong, some underlying issues remain. The over-reliance on government spending to prop up the economy highlights the growing gap between conditions in the public and private sectors.<\/p>\n\n\n\n<p>Nevertheless, government spending should support employment growth in the near term, particularly with a federal election next year. Still, a job market where growth is heavily concentrated within a small number of industries is always at risk of a slowdown.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tight monetary policy continues to weigh on job creation, with Australia\u2019s job vacancy rate declining for the eighth consecutive quarter. Despite that, Australia continues to create more than enough jobs to keep the unemployment rate low, despite an otherwise challenging economy.<\/p>\n","protected":false},"author":103,"featured_media":12630,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"recruiter-hub-blocks.php","format":"standard","meta":{"_acf_changed":true,"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-12629","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>Q3 AU Labour Account - Indeed Hiring Lab Australia<\/title>\n<meta name=\"description\" content=\"Tight monetary policy continues to weigh on job creation, with Australia\u2019s job vacancy rate declining for the eighth consecutive quarter. 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