7 in 10 Aussies back in work

By Cameron Micallef

March 11 2021
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With the economy reopening post-lockdowns, the ABS has confirmed that seven out of 10 “filled jobs” had recovered by the December quarter.

Filled jobs increased by 2.9 per cent in the December quarter 2020, seasonally adjusted, according to figures released today by the Australian Bureau of Statistics (ABS).

Bjorn Jarvis, head of Labour Statistics at the ABS, said filled jobs increased by 403,700 over the December quarter.

“There were 14.2 million filled jobs, up from a low of 13.6 million in the June quarter. Around seven out of 10 of the filled jobs that were lost during the March and June quarters have now been regained,” Mr Jarivs said.

The ABS stats showed that filled jobs grew in almost all industries in the December quarter, continuing the recovery from the June quarter.

The largest quarterly increase was seen in the healthcare and social assistance industry, which rose to a record high of more than 2 million filled jobs, and grew by 6.8 per cent over the year.

In the December quarter, around 6.0 per cent of employed people worked more than one job, up slightly from 5.7 per cent in the September quarter. This reflected faster growth in secondary jobs (8.3 per cent), compared with jobs worked by people as their main job (2.5 per cent).

The news follows Commonwealth Bank economists predicting that up to 110,000 Australians could lose their jobs once JobKeeper ends.

According to the big four bank’s research, up to 25 per cent of employees in heavily impacted sectors, including the tourism industry, could lose their job post the stimulus package being withdrawn.

“We see transport, arts and recreation, and accommodation and food services industries most at risk of job losses at the end of JobKeeper (i.e. we classify them as high risk),” they said.

“These industries are sensitive to international travel and also suffer badly when restrictions and lockdowns are imposed.”

Employees in retail trade and education receiving JobKeeper are forecast to see job losses of up to 10 per cent, while other industries, like construction and professional services, would see job losses of up to 5 per cent.

However, CommBank is predicting the job losses to be relatively short on the labour market as a whole.

About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

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