Latest ABS Jobs Data – Jan 2025
» Workforce participation record high of 67.1%
» Underemployment dropped to 2-year low
» New jobs hit 56,300 vs forecast of 15,000
» Jobless rate rose to 4% from 3.9%
» Part-time workers increased by 80,000
» Full-time workers dropped by 23,700
Employment Outlook for 2025
» The employment outlook for 2025 remains positive with an expected net 11% growth for the year. This is a 3% drop on the last quarter of 2024 and a 17% drop on the same time last year according the Manpower group.
» Small to medium organisations (10-49 staff) remain the most optimistic with a 23% net employment outlook, which is 4% higher than the last quarter of 2024.
» Private vs Public Sector trends are concerning with 264,200 private sector jobs lost and 639,000 public sector jobs gained in the 12-months to Sep 24. On a quarterly basis, public sector jobs rose by 499,000 and private sector jobs fell by 516,200. This is expected to continue in 2025.
» Another area to note is market to non-market jobs where job creation is circa 75% for non-market jobs compared to 25% in market jobs last year – with this trend likely to continue in 2025. *(non-market jobs – human services – public administration and safety, education and training and healthcare and social assistance)
MIGRATION
» Permanent Migration Programme capped at 185,000 places, with 70% (132,200 places) allocated to the Skill stream.
» Represents a reduction from the 190,000 places set for 2023–24, narrowing the focus on applicants meeting Australia’s long-term skill requirements.
» Net overseas migration is expected to decline by 110,000, with forecasts projecting a nearly 50% drop from 528,000 in 2022–23 to 260,000 in 2024–25.
EMPLOYMENT TRENDS
» Health care to grow by 3.2%
» Construction to grow by 2.0%
» Technology roles growth across all sectors.
» Highest Local Hiring Intention: Information Technology: +27% & Health Care and Life Sciences: +21%
» White collar employment expected to decline 0.4% or 23,500 in 2025 with return to growth of 1.6% in 25/26.
» Blue collar employment expected to grow by 2.0% or 74,300 before moderating to .04% in 25/26.
» Non-market roles forecast to grow by 1.69% or 96,700 in 24/25, tracking steadily to 1.3% growth in 25/26.
SOURCES
- Delloite Access Economics Employment Forecasts
- Source: ManpowerGroup Employment Outlook Survey Q1 2025 https://downloads.manpowergroup.com.au/meos-q125
- Source – ABS
- ABS images -news.com.au
