Full-Time Jobs in Australia Rising Rapidly
According to the Bureau of Statistics figures released in May 2022, about 60,600 extra people were employed in Australia’s labour force. This increase in employment was said to be driven totally by full-time jobs in Australia. Due to the rise in employment, the country’s jobs market has continued to strengthen.
According to Australia Immigration Professionals, unemployment remained at 3.9%, and underemployment fell to a 14-year low in May, based on government data.
An economist from Commonwealth Bank, Belinda Allen, stated that the unemployment rate of 3.9% is hiding how tight the labour market is becoming. She added that there is an intended drastic rise in full-time employment coming soon.
This report is accurate, as full-time employment has risen by 570,600 since February. On the other hand, part-time work in Australia has fallen by 60,600.
The Unemployment Rate Is Expected to Decrease Further
Even though the unemployment rate in Australia was stuck at a low 3.9% from March to May, it is likely to keep falling. This statement was made by an economist from Capital Economics, Ben Udy.
Generally, the stable rate in May was driven by an incredible rise in the labour force, Australia Immigration Professionals stated, based on news reports. There is still speculation that the unemployment rate will fall further not long from now.
In the months ahead, Australian job vacancies will continue to rise to new record highs. The increments will be consistent with a persistent reduction in the unemployment rate.
The Unemployment Rate Is Expected to Decrease Further
Full-time jobs have continued to rise rapidly in Australia. Thus, businesses are looking to secure more workers including skilled immigrants.
