Businesses looking for staff jumps depsite weak outlook
Australian businesses are still trying to hire more workers, a welcome sign the labour market is holding up despite economic pressures.
Fresh figures released by the Australian Bureau of Statistics shows job vacancies were up 2.9 per cent in the three months until May with businesses looking to add a combined 339,4000 new workers.
The data shows job vacancies year-on-year were down just 9600 positions or 2.8 per cent, which is the slowest annual decline in two years.
The labour market is holding up despite quarterly economic data released at the start of June showing quarterly economic growth is slowing.
For the first three months until March, Australia only added 0.2 per cent in economic growth or an anemic 1.3 per cent for the 12-months.
Senior Economist Terry Rawnsley said Thursday's figures show a boost in job vacancies and strong growth across critical age groups, highlighting Australia's resilient labour market.
'It is encouraging to see the private sector beginning to rebound, with vacancies increasing by 3.2 per cent from February 2025 to a total of 301,900,' Mr Rawnsley said.
'Meanwhile, public sector vacancies rose by a much smaller 0.6 per cent over the same period, reaching 37,500.'
Job vacancies increase in eight of the 18 industries measured by the ABS with a jump in construction and professional services leading the rises in businesses looking for staff.
The biggest falls were in wholesale trade and electricity, gas, water and waste services.
ABS head of labour statistics Sean Crick said the jump in job vacancies in May followed a fall in the three months to February 2025.
'The rise in job vacancies was driven by industries with a high proportion of skilled workers, including professional, scientific and technical services, and construction,' he said.
'Over the year, the number of unemployed people for each job vacancy grew from 1.7 to 1.8. This is well below the pre-pandemic level of 3.1 in February 2020, indicating there is still high labour demand.'
Mr Rawnsely said importantly 35 to 44 year olds were driving the jobs growth.
'This group contributed over one-third of the jobs added over the past year, making it the backbone of workforce expansion,' he said.
'These workers are often balancing family and financial commitments, with rising living costs encouraging more participation, particularly among women.'
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ABC News
19 minutes ago
- ABC News
Convicted drug dealer had same private ATMs as used in illegal tobacco shops
At the height of his epic Top End drug dealing enterprise, Peter "Hippy" Wellman James was juggling a virtual flood of cash. The muscular, tattooed former gardener was smuggling in truckloads of prime cannabis heads packed in drums and disguised as gravestones — estimated to bring in close to a million dollars a week. Evidence of his vast cash flow was confirmed by regular payments of up to $800,000 in notes that James had put in Cryovac bags to be shipped on a near weekly basis to his Adelaide based supplier known only as the "Russian" or "Milkman". When he was finally arrested in 2020 with over $100,000 in cash hidden in his home, police estimated the value of drugs he'd smuggled into the Northern Territory had topped $17 million. Dealing with the huge amounts of cash should have posed a headache for the Darwin resident and potentially put him on the radar of authorities. 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The ABC also asked atm2go if it was concerned about how their machines might be helping to fuel what is an illegal and violent business. It declined to comment. Last month, two men received burns and were hospitalised when the tobacco shop they were minding was allegedly set on fire at Browns Plains south of Brisbane. As police picked through the smoking wreckage of the shop in the aftermath, a slightly scorched but still legible sign associated with the business was very visible on the pavement in front. The sign featured an arrow pointing towards the shop and the words atm2go.
News.com.au
25 minutes ago
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