Falling unemployment rate, low youth unemployment and rising job ads cause for optimism

Con Kittos, Chairman at Asuria

High levels of online job advertisements, combined with the falling unemployment rate and sustained, low levels of youth unemployment are reported in the May Labour Force update.

This information suggests that Australia’s economic recovery is being fuelled by a ready supply of driven job seekers stepping up to fill rapidly opening new roles.

Insights from the May Labour Force update

With unemployment falling by 0.4 pts to 5.1% and youth unemployment rising 0.1%, to 10.7% – the lowest levels seen since January 2009, the figures show Australia’s labour force driving sustained recovery, in particular thanks to a number of key sectors fuelling demand.

Online job advertisements for hospitality occupations are currently up +149% compared to pre-COVID levels, with roles in call centres and as receptionists up 50% over the same time period, and salespeople positions up +74% since pre-pandemic levels.

The monthly change in job advertisement is most pronounced in the re-emerging hospitality sector, with advertisements for hospitality workers up 10% in April 2021 compared to the March 2021, with over 10,000 jobs in these roles currently available.

This paints an optimistic picture for Australians still looking for work, and serves as a reminder for people to pay close attention to sectors where burgeoning demand currently exists.

Lessons from the May Labour Force update

Australians should seek out employment opportunities in roles that they may not have previously considered prior to the onset of the COVID-19 pandemic.

The comparatively small pool of young people actively looking for work means growth-focused companies should be looking at ways to create roles targeting the youth while they are still on the job market, or they join other sectors and industries with faster pathways to employment.

Con Kittos, Chairman at Asuria, says: “At Asuria, we are as delighted as anyone to see youth unemployment remain low, as young people in Australia continue to seek out new opportunities as they lead the charge towards a COVID-free future.”

“Combined with twelve-year highs in online job advertisements, we are seeing a clear picture of rising demand for labour being met by a segment of our labour force ready, willing and able to fuel Australia’s economic recovery.”

“This nascent pool of eager young workers is limited, meaning that businesses eyeing growth should be asking themselves how they can attract the brightest young job seekers right now, before they are lured away by other industries, or potentially even their competitors.”