Australia’s job market added 27,900 new workers in July, which led the unemployment rate to reach 5.6 per cent from 5.7 per cent in June, according to the Bureau of Statistics.
The increase in employment took place for 10 consecutive months. At the same time, average advertised salaries in some regions such as the Northern Territory (NT) rose faster than the nationwide average over the last financial year.
But as important it is to hire people, security still comes first. This is why a good NT police check online will help with the process and ensure that the company hires the right personnel.
The consecutive improvement in the country’s unemployment rate has been the longest growth streak since 2010. More than 239,000 jobs have been created over the last 12 months in seasonally adjusted terms. Full-time jobs also increased by 197,700 during the same period. On the other hand, there were 41,600 new part-time jobs
Given these figures, the jobless rate may continue to fall from the existing level, according to National Australia Bank economist Tapas Strickland. An above-average growth in employment, higher than 15,500 jobs a month, will serve as the reason behind a positive trend in unemployment. Strickland believes that a continuous growth trend will be enough to change the jobless rate 0.1 per cent every two months, if there is “a constant participation rate.”
Salary growth in several states and territories also bode well for the employment sector. According to employment website SEEK, the average advertised annual salary increased 1.8 per cent to $81,747 in the current financial year.
While an increase in jobs is good, businesses should be able to screen a potential influx of applicants. In territories such as NT, a police check online could help employers to conduct background checks on jobseekers.
The improvement in Australia’s jobless rate indicates a positive movement in the economy, since more work means businesses require a bigger labour force. At the same time, salary growth in most states and territories also signal a good scenario within the employment sector.