BCEC Monthly Labour Market Update – January 2019

PublishedFebruary 2019
PublisherBankwest Curtin Economics Centre

Welcome to the January 2019 edition of the BCEC Monthly Labour Market Update.

Produced monthly, this economic commentary explores the latest labour force data released by the Australian Bureau of Statistics (ABS), providing expert insights and analysis around key labour market indicators.

We’ve also developed an online Data Insights platform, where you can explore current and historical labour market data including changes to part-time and full-time employment, and track the unemployment rate across the nation from the past four decades.

Key findings from January 2019 data include:

Mining, Utilities and Arts & Recreation – Industries to watch in 2019

2018 was a good year for both the Australian economy and the labour market. Mining will be the sector to watch in 2019, with strong employment growth expected to continue over the next 12 months and beyond. Global demand for our commodities, particularly LNG, lithium and iron ore, will drive these trends and the industry is responding with several new large-scale projects to commence this year.

The year ahead – What does 2019 hold for the Australian labour market?

Will we see more jobs being created, wages growth and sustained low unemployment? Current signs in the economy are pointing towards a positive year ahead, with mining activity on the rise both in terms of investment and labour market growth and continued strong demand in the services and education sectors.

Lowering the unemployment rate a never-ending marathon for WA

WA is back to recording the highest unemployment rate in the country, at 6.4%. However, given the slow, yet rising trend, of employment in the State’s major industries, we can speculate a much better future for WA’s labour market.