Our summary looks at the latest Jobs and Skills Australia (JSA) reports, including the Labour Market Update, Feb-24, the International Labour Market Update, Feb-24, and the Recruitment Experiences and Outlook Survey (REOS), Feb-24, and what it means for Health Sector Recruiters in Australia.
The Australian Labour Market Key Insights:
- There has been an overall decrease in recruitment activity over the quarter to December 2023.
- Employment growth is easing (Q3 vs Q4 2023), but yearly growth to December 2023 remains above the 10-year annual average growth rate.
- The easing in employment growth has occurred alongside the continued shift towards less than full-time working arrangements. Full-time employment decreased in the December quarter 2023, with a reduction in aggregate hours worked and female full-time employment. Part-time employment increased strongly over the same period, as did the underemployment and unemployment rate.
- Vacancy fill rates are increasing modestly, with marginal increases in the average number of suitable applicants per vacancy.
- Over the last 12 months, recruitment difficulty has reduced for employers around Australia, however the reduction is more pronounced in the capital cities than in the rest of state areas, so recruitment difficulty rates remain higher in regions that are further away from large population hubs. In December 2023, the proportion of employers currently recruiting was lower in the capital cities than in other state areas.
- Skill Level 1 occupations (commensurate with a bachelor's degree or higher) recorded the largest increase in employment over the year (up by 3.8%) and more employers had difficulty recruiting for these higher skilled occupations.
