The Jobs and Skills Australia Labour Market Update for the December 2024 quarter, shows almost two-thirds of employment growth in the past 12 months came from occupations with Vocational Education and Training pathways.
Employment growth was also sound, overall, with the unemployment rate stable at around 4% and the participation rate around the record high.
From an industry point of view, the Health Care and Social Assistance sectors led the growth, followed by Education and Training, and Accommodation and Food Services. But Manufacturing and Financial and Insurance Services experienced the largest declines in employment.
The Australian labour market is still showing signs of easing, but there was also a continued uptick in likelihood of filling advertised vacancies. This is supporting jobs growth even though recruitment activity is falling.
In Focus: This update shows that rising unemployment is accompanied by falling vacancy rates and increasing job vacancy fill rates, suggesting lower shortage pressures and shifts in the balance between labour supply and demand.
For more detailed analysis of these trends, read the full report.
