It’s been a busy election month, and an unstable government would naturally impact the job market. However, don’t put down your work tools just yet, as we come bearing good news! Yes, you can think of us as the fairy godmother of job market news.
Political stability has been a little shaky as of late – to say the least! - and the consequences can be damaging for us working folk. No sir-ee, not this federal election. According to the latest Australian Bureau of Statistics1, the labour market has seen a subtle boost. Take that political instability!
What’s more, full time employment jumped by 38,400 jobs, which caused a 7,900 decline in part-time hiring.
Do bear in mind however that this hasn’t stopped the unemployment rate from sticking at a steady 5.8%, a small bounce from May when it was 5.7%.
It seems the Turnbull vs Shorten scare campaigns will have to ramp up their fear factor to scare off hiring employers. Then hirng market is still strong and economic experts are remaining optimistic. Senior Economist at the Commonwealth Bank, Gareth Aird believes that the latest ABS statistics, “Suggests a stronger underlying pulse of job creation than today’s headline numbers imply.”
The question is, will hiring look just as hopeful this time next month, especially once the new government is in power? Watch this space for the next round of hiring highs and lows.
By Heather Doherty
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