Earn
Job ads jump to 3-year high
Australian businesses are continuing to look for new staff, with job ads rising for the ninth consecutive month, new research has revealed.
Job ads jump to 3-year high
Australian businesses are continuing to look for new staff, with job ads rising for the ninth consecutive month, new research has revealed.
In the month prior to JobKeeper ending, ANZ’s Australia Job Ads show that 176,000 roles were advertised in the month of February - up 7.2 per cent on the month.
Job Ads are now 13.4 per cent above their pre-pandemic level, equivalent to an additional 20,500 jobs being advertised on average per month.
ANZ senior economist Catherine Birch said the ongoing confidence will see solid net employment gains over February and March until JobKeeper ends.
“But we are still in the dark as to how many businesses and workers remain on JobKeeper in the current quarter, and therefore the potential hit to the labour market and overall economy,” she said.
In December, the ATO reported there were more than 1.5 million workers still receiving the payment, equivalent to almost 12 per cent of the workforce.
Despite an increase in jobs being advertised, underemployment remains a sizeable chunk of Australia’s workforce.
“In January, there were 878,000 people unemployed, 162,000 more than in March last year; 1.37 million remained on JobSeeker or Youth Allowance (other), with the payment to be reduced to $620.80/fortnight from 1 April,” Ms Birch said.
She highlighted for Australia’s economic recovery to continue, underemployment will need to be addressed.
“Labour demand must carry on strengthening for unemployment and underemployment to continue their rapid fall. This will be necessary to drive wage growth above 3 per cent (a feat not achieved in eight years) and inflation into the RBA’s 2-3 per cent target band,” Ms Birch concluded.
RELATED ARTICLES
About the author
About the author
Salary
The financial benefits of a diversified income stream
In today’s volatile economic environment, relying solely on a single source of income can be risky. Diversifying your income streams can provide financial stability, reduce the risk of financial ...Read more
Salary
Despite losing top spot, Elon Musk rakes in $400,000 hourly
Elon Musk, the entrepreneur known for his involvement in a wide range of innovative and technological businesses, has recently been dethroned as the wealthiest individual in the world, with Bernard ...Read more
Salary
Rising unemployment and skill shortages prompt Australian businesses to look globally for talent
Australia has witnessed its unemployment rate surging above 4% for the first time in two years, revealed by the latest Labour Force data. Read more
Salary
New findings link job mobility hurdles to stagnant wage growth
Recent research from the e61 Institute has unearthed significant links between slow wage growth in Australia and obstacles to job mobility, including non-compete clauses, complicated occupational ...Read more
Salary
Employers scrambling to prevent workplace brain drain
As workplace managers face a swiftly evolving employment market that’s increasingly favouring the demands of white-collar employees and jobseekers, bosses are falling under mounting pressure to ...Read more
Salary
Unions back Albanese’s pledge to close gender pay gap
An electoral promise from Labor to make gender pay equity an objective of the Fair Work Act has been hailed as a “watershed moment” from industry peak bodies who have traditionally advocated for ...Read more
Salary
Coles asked to disprove $115m in alleged wage theft
One of Australia’s biggest supermarkets faces allegations that it underpaid more than 7,500 employees a total of $115 million. Read more
Salary
Gen Z left behind in progress to gender equality
Women under 25 may emerge from the pandemic in a worse financial position than when it began, new research has shown. Read more
Salary
The financial benefits of a diversified income stream
In today’s volatile economic environment, relying solely on a single source of income can be risky. Diversifying your income streams can provide financial stability, reduce the risk of financial ...Read more
Salary
Despite losing top spot, Elon Musk rakes in $400,000 hourly
Elon Musk, the entrepreneur known for his involvement in a wide range of innovative and technological businesses, has recently been dethroned as the wealthiest individual in the world, with Bernard ...Read more
Salary
Rising unemployment and skill shortages prompt Australian businesses to look globally for talent
Australia has witnessed its unemployment rate surging above 4% for the first time in two years, revealed by the latest Labour Force data. Read more
Salary
New findings link job mobility hurdles to stagnant wage growth
Recent research from the e61 Institute has unearthed significant links between slow wage growth in Australia and obstacles to job mobility, including non-compete clauses, complicated occupational ...Read more
Salary
Employers scrambling to prevent workplace brain drain
As workplace managers face a swiftly evolving employment market that’s increasingly favouring the demands of white-collar employees and jobseekers, bosses are falling under mounting pressure to ...Read more
Salary
Unions back Albanese’s pledge to close gender pay gap
An electoral promise from Labor to make gender pay equity an objective of the Fair Work Act has been hailed as a “watershed moment” from industry peak bodies who have traditionally advocated for ...Read more
Salary
Coles asked to disprove $115m in alleged wage theft
One of Australia’s biggest supermarkets faces allegations that it underpaid more than 7,500 employees a total of $115 million. Read more
Salary
Gen Z left behind in progress to gender equality
Women under 25 may emerge from the pandemic in a worse financial position than when it began, new research has shown. Read more
