Payroll jobs sees seasonal uptick in December

Payroll jobs have witnessed a 0.5% enhance within the month to Dec. 9, ABS reported.

David Taylor, ABS head of labour statistics, attributed the rise to strong development within the retail commerce trade, constituting roughly 40% of the whole surge in payroll jobs.

“This seasonal enhance often peaks on the finish of the yr, earlier than the variety of jobs noticeably falls after Christmas and into January,” Taylor mentioned.

Retail commerce jobs confirmed a seasonal enhance of 1.9%, with related patterns noticed in different sectors as the vacation interval approached. This was adopted by the transport, postal, and warehousing trade, which skilled a 1% enhance, then by arts and recreation providers, which noticed a 0.9% rise.

“Weekly knowledge offers helpful insights into how the variety of jobs adjustments via the course of the yr, trade by trade, main into the top of yr peak,” Taylor mentioned. “Throughout late December and January, in addition they present the extent of seasonal change within the labour market, as dad and mom and carers take time without work and companies cut back their operations throughout the summer time holidays.”

Amid excessive seasonality, with no seasonally adjusted figures, annual estimates support in decoding knowledge by decreasing the seasonal impact.

“Over the yr we’ve persistently seen annual development in payroll jobs proceed to sluggish, falling from between 5% to six% within the first half of 2023, to round 2% to three.5% within the second half of 2023,” Taylor mentioned.

“Nonetheless, it’s also essential to do not forget that this slower development follows a very sturdy interval of development via 2022-23.”

Taylor highlighted a constant slowdown in annual development in payroll jobs all year long, dropping from 5-6% within the first half of 2023 to round 2-3.5% within the second half. Regardless of the slowdown, Taylor famous that this adopted a notably sturdy development interval in 2022-23.

The optimistic pattern prolonged throughout all states and territories, with Tasmania main the best way with a 1.1% enhance, adopted by Victoria, South Australia, and Western Australia, all experiencing a 0.6% rise.

“Over the month, Retail commerce jobs accounted for a big share of complete jobs development throughout the states and territories,” Taylor mentioned.

For different current ABS information, click on right here and right here.

Get the most popular and freshest mortgage information delivered proper into your inbox. Subscribe now to our FREE every day e-newsletter.