VET News

Take a Look at the Latest Australian Labour Market and Employment Indicators

The Department of Education, Skills and Employment's Monthly Leading Indicator of Employment has risen for the eighth consecutive month in February 2021 with cyclical employment likely to grow above its long-term annual trend rate in the second half of 2021.

This cyclical employment series (derived from a centred six-year trend rate) has now been temporarily suspended until more certainty emerges in the underlying trend in labour market activity.  

The National Skills Commission's Australian Labour Market Update informs people interested in working in Australia on a temporary or permanent basis. This January 2021 update shows that from March to November 2020 employment fell by 137,700.

The initial labour market impact of the COVID-19 pandemic was more pronounced for migrants than the Australian born. However, migrants in Australia have vastly different labour market outcomes, depending on their skill level, age, English proficiency, recent and relevant work experience, and the period since their arrival in Australia.

Migrants who arrived in Australia in the past 5 years experienced the greatest initial impact of COVID-19. For this group, the unemployment rate increased by 7.1 percentage points and employment fell by 17.1% between March and May 2020. However, this group also recovered quickly, with the number employed rising sharply (by 16.7%) between May and November 2020.

For migrants who arrived in Australia more than five years ago and for Australian-born people, the rise in unemployment was noticeably smaller than for migrants who arrived more recently, ranging between 0.4 and 1.3 percentage points between March and November 2020. For those who arrived in Australia more than 10 years ago, falls in employment were generally smaller.

These statistics are interesting specifically for businesses who are seeking to recruit skilled employees.  The figures suggest that businesses are considering the security concept of those recruits who are more familiar with the Australian way of life and who are more settled in their situation here rather than testing the waters with new migrants.  This being the case, this does have an impact on the VET sector in that the skill expectations of Australians are high and, therefore,  maintaining competence and currency in line with the industry requirements of their field is essential.

For full details access the media release links below: 

• Australian Labour Market Update - National Skills Commission
• Leading Indicator Employment Monthly Report - Department of Education, Skills and Employment

Date posted Mar 4, 2021