14 April 2011

Australia's employment growth powers onwards and upwards

In case we needed any confirmation that the Australian economy was powering along, the release of the March ABS labour force data confirmed it.

These are the March results (ABS catalogue 6202.0) for each of the past five years:

 What do you notice?

The most significant change is the huge increase (4.2%) in the number of Australians employed in the local workforce (either full time or part time). In the 12 months between March 2010 and March 2011, the total number of people employed surged from just under 11 million to nearly 11 and a half million. This is incredible.

As the labour participation rate has barely shifted, it tells us that the massive increase in numbers must be coming from immigration, both temporary (students and backpackers) and permanent.

It's little wonder that ‘skills shortage' stories are almost a daily feature in the Australian media.

And it's only going to get worse, much worse.

How up-to-date are those candidate records in your CRM system?

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