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Employment at record high

Australia’s trend estimate of employment increased by 23,800 people in September 2017, according to the Australian Bureau of Statistics.

The number of unemployed decreased by 2,200 people and the unemployment rate remained steady at 5.5 per cent.

Of the 371,500 jobs created over the last year, 315,900 were full time.

Full time employment now stands at a record high of 8,398,200.

The growth in full time jobs in the first nine months of 2017, represents the largest increase in the first nine months of a calendar year on record.

The DFP National Mining and Resources Index for job vacancies continues to increase with a rise of 5.7 per cent in September, at its highest point since May 2014.

As job increases in the sector are closely aligned with commodity prices, there is much interest in the current debates with the Federal and state governments in relation to gas extraction, the impacts on pricing and the flow on effect on future jobs growth.

Year on year vacancies are 42.4 per cent higher than in September 2016.

Permanent job vacancies are up 49.3 per cent over 12 months and 14.3 per cent over the past quarter.

Temporary/contractor job vacancies are up 34.2 per cent over 12 months and are up 13.9 per cent over the past quarter.

WA was up marginally for the month, by 1.9 per cent and is now up 29.2 per cent year on year.

Queensland continues to lead the way with another strong rise of 9.5 per cent for September and is now up 52.4 per cent year on year.

The promise of thousands more jobs in Queensland through the Adani Carmichael mine provides further optimism towards jobs growth for the state.

Hiring by iron ore miners continues to lead the way with a further increase in September by 5.6 per cent and is up now by 65.5 per cent year on year.

The big mover in September was gas and oil extraction up by 12.1 per cent.

Political debate regarding gas extraction policy is watched with interest and is likely to have an impact on continued jobs growth in this sector.

After consistent declines in 2017, coal and mineral mining enjoyed its best month of the year with job demand increasing 7.4 per cent.

Vacancies have continued to be on the increase for engineering professionals, with a further increase of 5.4 per cent for the month and a remarkable 83.4 per cent over the past year.

DFP CEO Robert van Stokrom said operational management vacancies are also continuing to increase and were up 9.4 per cent in September and now up 19.2 per cent for the quarter.

Hear his take on the new figures here.

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