Latest news with #TerryRawnsley
Perth Now
11 hours ago
- Business
- Perth Now
Job market defies economic slowdown
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. There is a huge number of employee shortages in the construction sector: NewsWire / David Geraghty Credit: News Corp Australia 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. ABS breakdown of the 18 industries they measure. Picture Supplied. Credit: Supplied 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.'
News.com.au
11 hours ago
- Business
- News.com.au
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.'
The Age
01-06-2025
- Business
- The Age
What you need to earn to be in your Melbourne suburb's top 1 per cent
In Melbourne's richest suburb, typical income earners make $81,000 a year. But the top 1 per cent of income earners in that area make one-and-a-half times that – in a single week. Analysis of Australian Bureau of Statistics personal income data by this masthead reveals that the top 1 per cent of income earners in Toorak earn almost $7.5 million a year on average, making it Melbourne's only suburb where the top 1 per cent of income earners rake in more than $5 million a year on average. Use the zoom controls on the map below to view the average income among the top 1 per cent of your suburb, along with the median and average income there. You can also find your Victorian suburb's data in a searchable table further down in this article, as well as a version of this map that displays the data for the rest of the state. In the Greater Melbourne region there are 60 suburbs where the top 1 per cent earn between $1 million and $5 million on average, ranging from Flinders at the tip of the Mornington Peninsula to Woodend on the northern peri-urban fringe, but most of them are clustered in the inner-east. Hawthorn South has the second-highest average income among its 1 percenters, where they recorded an average annual income of almost $4.9 million. South Yarra's west is third on Melbourne's rich list - its 1 per cent earn $4.3 million on average. Both of these suburbs share a border with Toorak. Berwick North, 40 kilometres south-east of the CBD, is fourth on the list, but a way behind. The suburb's top 1 per cent earn just shy of $3 million a year on average. In some neighbourhoods, the average income among the top 1 per cent is skewed higher by a few incredibly high earners – the top 0.1 per cent – driving up the average. The top 1 per cent of earners across Greater Melbourne make an average of $810,000 annually. That compares with an average annual income for all earners in the city of $75,000; the median income (the middle value of all earners) was $56,000. KPMG urban economist Terry Rawnsley said the distribution of wealth to Melbourne's eastern suburbs aligned with proximity to high-paying jobs, along with some of the city's best local amenities, including access to transport and schools.
Sydney Morning Herald
01-06-2025
- Business
- Sydney Morning Herald
What you need to earn to be in your Melbourne suburb's top 1 per cent
In Melbourne's richest suburb, typical income earners make $81,000 a year. But the top 1 per cent of income earners in that area make one-and-a-half times that – in a single week. Analysis of Australian Bureau of Statistics personal income data by this masthead reveals that the top 1 per cent of income earners in Toorak earn almost $7.5 million a year on average, making it Melbourne's only suburb where the top 1 per cent of income earners rake in more than $5 million a year on average. Use the zoom controls on the map below to view the average income among the top 1 per cent of your suburb, along with the median and average income there. You can also find your Victorian suburb's data in a searchable table further down in this article, as well as a version of this map that displays the data for the rest of the state. In the Greater Melbourne region there are 60 suburbs where the top 1 per cent earn between $1 million and $5 million on average, ranging from Flinders at the tip of the Mornington Peninsula to Woodend on the northern peri-urban fringe, but most of them are clustered in the inner-east. Hawthorn South has the second-highest average income among its 1 percenters, where they recorded an average annual income of almost $4.9 million. South Yarra's west is third on Melbourne's rich list - its 1 per cent earn $4.3 million on average. Both of these suburbs share a border with Toorak. Berwick North, 40 kilometres south-east of the CBD, is fourth on the list, but a way behind. The suburb's top 1 per cent earn just shy of $3 million a year on average. In some neighbourhoods, the average income among the top 1 per cent is skewed higher by a few incredibly high earners – the top 0.1 per cent – driving up the average. The top 1 per cent of earners across Greater Melbourne make an average of $810,000 annually. That compares with an average annual income for all earners in the city of $75,000; the median income (the middle value of all earners) was $56,000. KPMG urban economist Terry Rawnsley said the distribution of wealth to Melbourne's eastern suburbs aligned with proximity to high-paying jobs, along with some of the city's best local amenities, including access to transport and schools.
Sydney Morning Herald
22-05-2025
- Business
- Sydney Morning Herald
The maps that reveal how Western Sydney is being split in two
Western Sydney is getting younger and more divided, with a chasm growing in employment and opportunities between the region's northern and southern sides. Data compiled for KPMG's Emerging Cities report reveals a significantly higher employment rate in the city's north-west, where unemployment sits at 2.9 per cent, compared to the city's south-west and outer-west, where unemployment ranges from 3.6 to 5.4 per cent. There were increases in the population of people aged 20-49, with 19,600 people in their 20s moving to western Sydney. Terry Rawnsley, KPMG's urban economist, said this was primarily driven by the migration of families to the area. While Western Sydney's expanse has never grown at a constant rate, he said the data shows the impacts of infrastructure investment in a region. While Sydney's north-western edges have for years reaped the benefits of government investment in the M7, Sydney's first metro line and new employment hubs, the city's south-west is several decades behind. But not for long. Major projects in the area, including construction on the new international airport, the Bradfield City precinct (the first major planned city in Australia in more than 100 years) and Moorebank's freight terminal, are all creating more jobs. On Western Sydney's northern side, 27,000 jobs – primarily professional occupations – were added in 2024. On the southern side, that number was just 13,400, made up of primarily blue-collar jobs. Between the two sides, Parramatta acts as what Rawnsley labelled a blurry demarcation line. That divide was concerning for social mobility: 'You would like to have a city where, in a street, you could have a service worker, a labourer, a lawyer and a doctor, all stretched on the one street. It doesn't always work that way, but having that diversity of workforce is good because you can have local services coming through and for the next generation to have … wide social networks.'
