Australia’s recent unemployment rate has dropped to 4.6% in July from 4.9%, defying prospects the economy would lose occupations due to the greater Sydney lockdown.
In July, Australia’s economy supplemented 2,200 jobs, and the number of jobless people fell by 39,900, but according to recent statistics, the falling unemployment rate is not a sign of a strong jobs market.
The improvement in unemployment was mostly due to a decrease in the participation rate from 62.2% to 62%, as job seekers dropped out of the labour market.
Recent figures reveal that 3m fewer hours were worked in July, down to 1,778m, and under unemployment surged from 0.4 points to 8.3%.
With Sydney caught in lockdown since late June, Victoria’s shorter lockdown in mid-July and sixth in August have driven mounting concern that the country’s economy will shorten in the final two quarters of 2021.
The treasurer of Australia, Josh Frydenberg, claims that recent lockdowns have caused “substantial damage” to the Australian finances, and Treasury advice points to a 2% contraction in the September quarter.
Josh Frydenberg told the press in Canberra it was “too early to speculate” earlier this year but noted that the Reserve Bank estimated more than 4% growth in 2022.
The treasurer said consumer spending and confidence were both 30% greater than in March and April last year, so the financial matters, while “challenging”, are doing better than at the onset of the pandemic. Frydenberg also pointed to $290bn of household and business economies as a potential stimulus source after COVID-19 restrictions ease.
Chief of labour statistic Bjorn Jarvis said July saw “significant falls in New South Wales in both unemployment and employment, with the workforce dropping by around 64,000 people”.
Nevertheless, Josh Frydenberg said that figures pointed “there’s a great resilience in our economy”.
Stuart Robert, the employment minister, said that the number of labourers stood down had reached 13,900 in June to 116,700 in July, feeding a national growth from 156,00 to 181,00 despite fewer employees stood down in Victoria.
Baristas, technology, traffic controllers among jobs in need of more workforce in Australia
More than 150 Australian jobs are facing skill shortages, according to the employment minister. Stuart Robert said these shortages were most prevalent for trade workers and technicians, drivers, carers and machinery operators. In an interview for the Today show, Stuart also spoke about traffic controllers and baristas as occupations in need of more workforce.
With more than a quarter of a million jobs going, we’ve witnessed a fall in unemployment, with 130,000 more Aussies employed now than before the onset of the pandemic.
Unemployment dropped from 4.9% to 4.6% in July despite the widespread estimations from economists that figure would peak.
Robert Stuart advised that shifts in the employment rate could be confusing, and the figures would likely “jump around” for the next couple of months. He also urged Aussies looking for job prospects to use the federal government’s JobTrainer scheme or to consider online tuition should the fear of pandemic and other anxieties hinder their normal course of life.
So Where Are Australia’s “Emerging” Jobs At?
The National Skill Commission has appointed “data scientists” and “data analysts” at the top of the “frequently advertised “emerging jobs list” According to data, there’s a repressed demand for high-performance computing, for the skillset around performance computing, programming and manipulating and storing of data.:”
Cyber Security: All-Time High
HR experts across Australia agree that cyber security and digital skills will be in high demand in 2021.
Our society has changed a lot since the onset of the pandemic, so we saw a greater focus on remote working and online platforms, therefore lots of importance around the mobility of data, security and employee agility.
According to the Australian Security Growth Network, over 7,000 more cyber security experts will be needed across all industries countrywide by 2024.
Currently, there are 26,500 employees operating across the sector, which is small compared to more reputable industries but is growing fast, by almost 4,000 workers every year since 2017.
Demand for Laborers is Booming
Typically, the HR industry goes into a “break” during the summer holiday break, but that was not the case in 2021.
The Australian Security Growth Network said many workers were getting ahead of the pack due to concerns regarding skills scarcities, especially in key areas due to demand generated by Federal and State home-building programs and a resilient mining sector industry.
Proactive businesses are concerned about not standing out from their competition in terms of attracting top talent in 2021.
There’s a real need to make sure that industries secure their talent, especially now when the world starts to improve, and vaccines start to be accessible both around the world and in Australia.
According to the National Skills Commission, a robust growth in recruitment nationwide had been seen for labourers, with job advertisements up to 133% – nearly 7,500 jobs- since the peak of the pandemic in April last year.
Queensland and Western Australia have seen the biggest growth for labourers, with sectors like forestry, construction, mining, and food preparation driving the recruitment.
Health and Aged Care Top as Resilient Sector in 2021
Not surprisingly, nurses, disabled, and aged carers are leading as the most “resilient jobs”, which also feature delivery drivers and psychiatrists.
Recently, the Nurses Federation and Australian Medical Association equally warned about the shortage of nurses heading into 2021.
Usually, the aged care sector has struggled for skill shortage, and that challenge doesn’t seem to come to an end with a projected 57,000 extra personnel needed countrywide to conform with fixed minimum recruitment ratios being recommended to the Royal Commission into Aged Care Quality and Safety. This skill shortage has sent emergency teams to supplement the lack of medical professionals in nursing homes where more patients had contracted the virus, most of the staff. This sector desperately needs people who have a kind heart, are caring individuals, are good listeners, and want to try something different.