Full-time employment surges amid participation growth
15 Sep 2022|
The bounce in the participation rate, with more returning to the workforce, is positive, but it contributed to the unemployment rate edging up slightly during August to 3.5 per cent.
“An extra 33,500 people employed shows the economy is still running hot, with the labour market remaining tight,” ACCI chief executive Andrew McKellar said.
“Importantly, full-time employment increased by 58,800 in August, while the number of part-time workers fell by 25,300. Underemployment has also decreased.
“This is a clear sign that, in this tight labour market, more Australians have a secure income.
“Youth unemployment is 3.2 points lower than in March 2020, showing more young people are finding work, delivering long-term benefits.
“These latest figures clearly contradict the ACTU’s claim that people are struggling to find secure jobs. The fact is the lion’s share of employment growth over the past year has been in full-time positions – almost 9.5 million Australians are now in full time work.”
The participation rate also grew to 66.6 per cent, up 0.2 percentage points on July’s figures, with increases for both men and women.
“The continued trend of low unemployment remains a challenge for businesses trying to find staff,” Mr McKellar added.
“Short-term fixes including addressing visa processing times and increased permanent migration levels are a good start, but we must enact longer-term reforms to ensure Australia has the workers it needs.