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Gillard releases major Skills Australia report |
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Source: Jobs Australia Website, 15 March 2010
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In a comprehensive address at the University of Technology in Sydney today (Friday, 5 March 2010), Deputy PM Julia Gillard launched the Skills Australia’s report, Australia’s Workforce Futures: A National Workforce Development Strategy.
Her speech positions the issues of workforce participation and skills development in the context of our changing demographics and the changing labour and skill needs of the economy. It contains some interesting slides and charts and positions the issues raised in the report within the context of the Government’s current policy agenda of supporting significant expansion in both VET and apprenticeships.
The strategy itself is a significant document with sections on workforce participation, the need to improve the level of language, literacy and numeracy skills across the community, and better ways to engage and release the skills of the existing workforce. It will provide all those working in training and employment services with some important guideposts for considering future strategies. The Strategy is available on the Skills Australia website.
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Every which way: Job Ads, DEEWR’s Monthly Leading Indicator, Insulation Hotline |
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Source: Jobs Australia Website, 15 March 2010
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The DEEWR Monthly Leading Indicator or Employment for March 2010 has fallen for the second consecutive month following a run of seven months during which it rose. However, the indicator will not signal that the growth in employment has begun to slow until this pattern occurs for six months in a row.
The Indicator is a compilation of four sets of data: ANZ Job Ads, Dun and Bradstreet Employment Expectations, the Westpac-Melbourne Institute Leading Index of Economic Activity and the Westpac-Melbourne Institute Consumer Sentiment Index. It is designed to give advance warning of turning points in the employment cycle. You can read more detail about the way it works by clicking on the link above.
It is worth keeping this month’s indicator in mind when reading today’s Age (Wednesday, 10 March 2010) which reports on the ANZ’s February job ads survey for both newspapers and the internet. It shows a surge of almost 20 per cent on the January figures.
And employment watchers will also be wondering what impact the closure of the Government’s insulation program will have on future monthly indicators and on this Thursday’s unemployment figures. A report in The Age today, and also The Sydney Morning Herald, states that at least 1,500 people have been made jobless and are applying for government training programs because of the axing of the insulation rebate, and that 200 companies have contacted a government hotline about measures to help them retain staff until changes to the scheme are introduced in June.
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February’s unemployment rate bucks the trend: up to 5.3% |
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Source: Jobs Australia Website, 15 March 2010
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Today’s release (Thursday, 11 March 2010) of the unemployment rate for February seasonally adjusted shows a slight rise to 5.1 per cent. This follows a recent pattern of steady falls and will surprise many following the bullish news on many fronts about the remarkably good health of the Australian economy, GFC notwithstanding.
Even so, there have been some warning signs that the recovery and associated demand for labour might not be as strong or sustained as the headlines suggest. Among these have been data on the high level of underemployment in the economy. It is worth noting that today’s ABS figures show that while there has been a rise in the unemployment rate the aggregate monthly hours worked increased 35.9 million hours (2.4%) to, 1,553.2 hours. Is it possible that this reflects employers who need more labour calling on existing employees to increase their hours rather than opening new positions? A recent publication from the ABS, Barriers and Incentives to Labour Force Participation, Australia, Jul 2008 to Jun 2009, provides useful some insights into the story behind part-time work and underemployment.
Our update yesterday on DEEWR’s Leading Indicator of Employment also hints that the demand for jobs may be showing signs of cooling. Nevertheless, responses to today’s news in the major dailies continue to be very positive for the future of jobs, in particular this report in today’s Age.
FEBRUARY KEY POINTS: SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)
- Employment increased 400 to 10,971,100. Full-time employment increased 11,400 to 7,659,700 and part-time employment decreased 11,000 to 3,311,400.
- Unemployment increased 10,700 (1.8%) to 615,900. The number of persons looking for full-time work increased 9,200 to 447,100 and the number of persons looking for part-time work increased 1,500 to 168,800.
- Unemployment rate increased 0.1 pt to 5.3%. The male unemployment rate increased 0.2 pts to 5.4% and the female unemployment rate decreased 0.1 pt to 5.2%.
- Participation rate decreased 0.1 pt to 65.2%.
- Aggregate monthly hours worked increased 35.9 million hours (2.4%) to 1,553.2 million hours.
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Social enterprise (Scanners R-Us) - examples of new emerging enterprises |
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Source: Jobs Australia Website, 15 Mar ch 2010
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