According to reports, the employment-to-population ratio and the participation rate in Australia are near historic highs. These reports indicate a tight labor market in the country.
These factors are why employers are encountering difficulties filling the high number of vacant jobs in the country, according to Australia Immigration Professionals.
In the last two months, the female employment participation rate was up by 81,000 roles. Due to this, the female participation rate reached a record high of 62.5%.
At the same time, females’ employment-to-population ratio was at a record 60.4%, according to Lauren Ford, head of statistics at the Australian Bureau of Statistics.
Continuing Labor Market Gains
Currently, there is no shift in the demand for workers as there is approximately one vacant job in Australia for every unemployed person. This statement was according to Cherelle Murphy, the Chief Economist at EY.
Australia Immigration Professionals stated that the Reserve Bank would be pleased that the labor market gains are on the rise. However, the organization will be concerned about providing an upside risk to inflation in the remaining part of the year. This will most likely occur due to the upside risks to wages.
A further rate rise would thus be validated if things go by the speculations and inflation remains on the rise.
Increase in Australian Female Workers' Employment
The current employment-to-population ratio and the participation rate in Australia are nearly reaching historic highs. It was noted that employment for female workers had hit a record high. From reports, female employment in Australia has risen by 81,000 in the last two months.