A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

[smartcode_project:default project_id=134974 project_image_fid=5421]

The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

[smartcode_project_cta:default project_id=134974]

Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

[smartcode_project:default project_id=152125 project_image_fid=363778]

The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

[smartcode_project_cta:default project_id=152125]

Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Employment

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The world of work has become an increasingly difficult environment for young people. Youth unemployment in Australia is persistently higher than for other age groups.
In response, our governments have delivered one-size-fits-all policies that focus on national targets encouraging education programs to make unemployed young people more “work ready”.
These approaches assume that, with the right education or training, a young person will be able to get a job. However, this is not the case, especially for young people who live in areas of high youth unemployment.
To reduce youth unemployment, education and labour market policies must go beyond a focus on individual young people to offer solutions at a community level.
Rural and regional areas hit hardest
Youth unemployment has been a feature of developed economies since the 1980s. As the Australian economy continues to open to global competitive pressures, the decline in the availability of manufacturing work and the growth of the services sector have changed the nature of work.
However, as recent research has highlighted, youth unemployment rates vary in different places and local communities.
Rural and regional areas are among the hardest hit by these changes. Places such as outback Queensland and the New South Wales Hunter Valley have youth unemployment rates of 28 percent and 22 percent respectively.
These levels of youth unemployment reflect these regions’ reliance on industries that are changing rapidly and may no longer provide reliable local employment.
These powerful shifts are not adequately recognised at a policy level.
Policies targeted at youth currently encourage the development of individual human capital. This takes place through a one-size-fits-all approach focused on increasing levels of educational qualification, with the promise that young people will find professional work.
This kind of future is not available to all young people, no matter how “work ready” they may be, especially for those in areas with high youth unemployment.
Again, these policies ignore the reality of the forms of work available in different local communities.
Does this matter in a world where young people are encouraged to be as mobile as possible in search of work and a fulfilling future?
The answer to this question is a resounding yes, for reasons connected with the role of local communities in shaping young people’s identities and pathways through work.
The critical role of local communities
Australian and international research has shown the critical role that processes of identity construction play both in young people’s engagement with work and in the strategies they use to survive unemployment.
Rural and regional young people are key examples of this process. Research has demonstrated the importance of local community connections for young people’s orientation towards their future in work. This applies even to those whose imagined futures take them beyond the boundaries of their local communities.
In one example from this research, a young man who imagines a future as a teacher described his plans in terms of existing family connections to the profession and the availability of accommodation with family members who lived close to the nearest regional university.
This process, in which young people imagine futures around established community connections and ways of life, is common in regional areas. While schools encourage young people to plan their own individual futures, the lives of relatives and other community members continue to shape their desires and perceptions of what is possible for them.
Community support in tough times
These communities may also be zones of high youth unemployment. Research conducted in former manufacturing centres of the UK with high unemployment shows that local community relationships provide critical support when times are tough. These local networks may also provide access to casual employment.
However, these communities operate as both resources and limits to young people’s biographies. The resources they offer may not provide opportunities beyond their local place, and young people may be personally invested in forms of work that reflect the history of their community. For example, young men may aspire to futures in manufacturing that are no longer locally available.
Similar <a href="https://www.propertyobserver.com.au/https://www.palgrave.com/us/book/9781403939326">results</a> have been found in rural Australia, where established expectations about suitable work may not reflect actually existing opportunities available to local youth.
As a consequence, people must re-evaluate who they are and who they can become. This re-negotiation of personal identity is a key aspect of navigating changing labour markets in areas of high youth unemployment.
A complex policy issue
Youth unemployment is a complex policy issue with no silver-bullet solutions. Simple approaches based on individual employability are destined to fail.
Local communities and young people themselves are grappling with rapid economic change.
To be successful, education and training programs must work with local communities alongside investment in regional economies aimed at creating new employment opportunities when established industries leave.
Only in this way can education and employment policies support young people to navigate regional Australia’s changing labour markets.
David Farrugia is lecturer, School of Humanities and Social Science, University of Newcastle and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/david-farrugia-243862" target="_blank">here</a>.
 
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jchancellor-FAypfDUnLy

Youth unemployment: local communities essential for helping young people find work

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 Six months ago we noted that there were more people in jobs or looking for jobs than ever before across a raft of age categories. And at that time we suggested there were signs that participation rates seemed to be topping out – starting to trend sideways. 
But interestingly over the past six months workforce participation rates for those older than 55 years have lifted and to fresh record highs (using 12-month rolling averages).
<a href="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%209.07.39%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%209.07.39%20AM.png" alt="">
But while seniors are more active in the labour force, the participation rate for the 15-19 years grouping continues to trend lower. And the participation rate of 20-24 year Aussies has been largely stable and still well below the record highs set 25 years ago.
In rolling average terms, the overall labour force participation rate has been rising since May 2015 and now stands at a 2ó-year high of 65.0 percent, but still below the high of 65.5 per cent set in 2011. However a key reason why overall workforce participation is still below record levels is the lower participation rate of young people, with more choosing to do further studies before joining the workforce.
The latest job numbers also show that there are 3.66 million people over the age of 65 compared with 3.53 million Australians aged between 25-34 years. The number of people over the age of 65 is growing at a 3.4 percent annual rate. In contrast the number of people aged 25-34 is growing at a 1.58 percent annual rate (8-year low) and the number aged 35-44 is growing at a 0.21 percent annual rate – slowest rate recorded.
Australians are living longer and are opting to stay in the workforce longer – even if on a more casual or part-time basis.
But the trends are incredibly positive for Government finances and the economy as a whole. The risk had been that the ageing population would lead to lower tax revenues and rising health and social security spending. But a healthier aged population and greater workforce participation by seniors can buy the politicians more time in coming up with a new tax structure that will take the economy forward.
What do the figures show?
 Detailed employment data
A raft of detailed job data for March was released yesterday. Data on employment by industry is released quarterly and the most recent data was published last month. 
This month we focus on participation rates (proportion of people in jobs or looking for work) across age brackets and have assessed rolling annual averages.
In the year to March, the participation in the job market of those 25-34 years was 83.2 per cent, just off the record high of 83.3 percent set in the year to February.
The participation in the job market of those 35-44 years was 83.8 percent,  a record high.
The participation in the job market of those 60-64 years was a  record high of 56.0 percent.
The participation in the job market of those 65 years plus was 12.3 percent,  a record high
The participation in the job market of those 55-59 years was 73.6 percent,  a record high.
The participation in the job market of those 45-54 years was 83.4 per cent, just below the record high of 83.6 percent set in April 2011.
The participation in the job market of those 20-24 years was 79.2 per cent, up from the record low of 78.0 per cent set in November 2014.
The participation in the job market of those 15-19 years was 53.8 per cent, up from the record low of 53.2 percent set in July 2014.
The number of people in the civilian population aged 65 plus is 3.66 million, up 3.43 percent on a year ago.
Those aged 25-34 years total 3.53 million people (up 1.58 per cent) and those aged 35-44 years total 3.22 million people (up 0.21 per cent).
There are 3.61 million Aussies not in the labour force and the number is currently falling at a 1.51 per cent annual rate – just off the fastest annual decline seen in the past nine years.
Average hours worked in the year to March was 32.3 hours. The average measure has been largely unchanged over the past year but down on recent highs of 32.9 hours set in early 2012.
<a href="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%209.09.25%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%209.09.25%20AM.png" alt="">
What is the importance of the economic data?
The Australian Bureau of Statistics (ABS) provides  detailed labour market figures one week after releasing ‘top level’ statistics of employment &amp; unemployment levels across states and territories. The detailed data is useful in identifying broader underlying trends and instructive about the health of the economy.
<a href="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%209.11.31%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/26/Screen%20Shot%202016-04-26%20at%209.11.31%20AM.png" alt="">
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
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Record share of seniors in workforce: CommSec's Craig James

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GUEST OBSERVER
Employment rose by 26,100 in March after rising by 700 in February (previously reported as a rise in jobs of 300). Full-time jobs fell by 8,800 while part-time jobs rose by 34,900. Economists had tipped a 17,000 increase in jobs.
Hours worked fell by 1.1 per cent in March. Hours worked are up by 0.7 per cent over the year.
Jobless rate: The unemployment rate fell from 5.8 per cent to a 2ó-year low of 5.7 per cent in March (lowest since September 2013). The trend unemployment rate held steady at 5.8 per cent – a 27-month low.
The participation rate was steady at 64.9 per cent.
Unemployment across states in March: NSW 5.3 per cent (February 5.3 per cent); Victoria 5.7 per cent (6.0 per cent); Queensland 6.1 per cent (5.6 per cent); South Australia 7.2 per cent (7.7 per cent); Western Australia 5.5 per cent (6.0 per cent); Tasmania 6.8 per cent (6.9 per cent). In trend terms unemployment in the Northern Territory rose from 4.4 per cent to 4.5 per cent; ACT unemployment fell from 4.5 per cent to 4.3 per cent.
In smoothed terms, discount fares fell by 3.6 per cent over the year to April. But business class airfares rose at a smoothed 7.4 per cent annual rate with “restricted economy” fares up by 3.6 per cent.
A raft of companies is affected by the employment data but especially those dependent on consumer spending. Amongst stocks affected are Fairfax, West Australian Newspapers, Seek Limited, McMillan Shakespeare and Skilled Group.
<a href="/images/2016/04/14/Screen%20Shot%202016-04-14%20at%203.16.48%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/14/Screen%20Shot%202016-04-14%20at%203.16.48%20PM.png" alt="">
What does it all mean?
The latest employment result was just what households and businesses ordered. After a couple of months of consolidation, employment has recorded a sizeable rebound. And while the pessimists may focus on the fact that hours worked fell in the March, the slide in the unemployment rate to 5.7 per cent - the lowest levels in 2ó years – will provide a big boost to confidence amongst Aussie consumers. And as we saw over the latter part of 2015, job security plays a big part in household consumption.
Labour market conditions have certainly improved over the past year; business conditions are healthier; profitability has improved; and more importantly the housing sector is providing significant support to an array of industries.
After racking up almost 300,000 new jobs in 2015, there was likely to be inevitable period of consolidation. And the volatility in financial markets in the early part of 2016 was unlikely to see businesses commit to significant hiring. The employment growth in March is a positive shift in momentum, however while we expect employment to strengthen over 2016, it is likely that employers will be more circumspect in hiring given the uncertainty around the timing of the Federal Election.
The Reserve Bank will be comforted by the latest job market figures. No doubt it would like to see a lift in productivity but that will take time as the significant new job hires over 2015 get settled into their new working environments. In addition policymakers will take the latest figures with a degree of caution given the seasonality issues with the early timing of Easter and even the extra day in February (leap year). The key will be the inflation data, due on April 27. A super low inflation result would allow the Reserve Bank to contemplate another rate cut – in effect asking the question whether the economy could run at a faster pace without creating asset bubbles. We expect rates to remain on hold over the next couple of months.
The Reserve Bank will also be heartened that the youth jobless rate (15-24 year olds) fell from 12.2 per cent to a near 3-year low of 12 per cent.
It pays to shop around. That is common advice but it certainly is the case with airfares. In smoothed terms, discount airfares are almost 4 per cent lower than a year ago but business and full fare economy fares are up on a year ago – over 7 per cent higher in the case of business fares. With plenty of people travelling – especially businesspeople – airlines aren’t keen to trim fares.
<a href="/images/2016/04/14/Screen%20Shot%202016-04-14%20at%203.18.40%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/14/Screen%20Shot%202016-04-14%20at%203.18.40%20PM.png" alt="">
What do the figures show?
Labour force:
Employment rose by 26,100 in March after rising by 700 in February (previously reported as a rise in jobs of 300). Full-time jobs fell by 8,800 while part-time jobs rose by 34,900. Economists had tipped a 17,000 increase in jobs.
Hours worked fell by 1.1 per cent in March. Hours worked are up by 0.7 per cent over the year.
The unemployment rate  fell from 5.8 per cent to a 2ó-year low of 5.7 per cent in March (lowest since September 2013). The trend unemployment rate held steady at 5.8 per cent – a 27-month low.
The participation rate  was steady at 64.9 per cent.
A total of 235,300 jobs were added over the year to March . The annual growth rate eased from 2.1 per cent to 2 per cent. In trend terms, employment has risen for 28 consecutive months.
The working age population  rose by 30,900 in March. The working age population rose by 285,600 over the past year. The working age population is up 1.49 per cent over the past year.
Unemployment across states in March: NSW 5.3 per cent (February 5.3 per cent); Victoria 5.7 per cent (6.0 per cent); Queensland 6.1 per cent (5.6 per cent); South Australia 7.2 per cent (7.7 per cent); Western Australia 5.5 per cent (6.0 per cent); Tasmania 6.8 per cent (6.9 per cent). In trend terms unemployment in the Northern Territory rose from 4.4 per cent to 4.5 per cent; ACT unemployment fell from 4.5 per cent to 4.3 per cent.
Jobs across states and territories in March:  NSW +4,800; Victoria +10,600; Queensland -15,400; South Australia +4,600; Western Australia +16,600; Tasmania +800. Trend terms: Northern Territory -600; ACT unchanged.
 Airfares
The Bureau of Infrastructure, Transport and Regional Economics (BITRE) reports that business class airfares fell by 0.2 per cent in April to stand 6.2 per cent higher than a year ago. Earlier in February airfares were up 8.2 per cent on a year ago – the strongest growth in 10 months. In smoothed terms, business class airfares are up 7.4 per cent on the year, the fastest growth pace in 13 months.
“Restricted economy” airfares also fell by 0.2 per cent in April after rising by 0.1 per cent in March. Restricted economy airfares are up 3.6 per cent on a year ago. In smoothed terms restricted economy fares were also up 3.6 per cent over the year. Airfares have been rising at a 6.5 per cent average annual pace for the past three years.
Discount airfares remain volatile. Discount fares rose by 6.4 per cent in April after falling by 6.6 per cent in March and rising by 7.5 per cent in February. Discount fares are 9.9 per cent higher than a year ago after being down 13 per cent on a year ago in March. In smoothed terms, discount airfares are down 3.6 per cent on a year ago.
In real terms however, discount airfares are only 6.0 per cent above the lowest levels recorded (March 2011).
Why is the data important?
The Labour Force estimates are derived from a monthly survey conducted by the Bureau of Statistics. The population survey is based on a multi-stage area sample of private dwellings (currently about 22,800 houses, flats, etc.) and a sample of non-private dwellings (hotels, motels, etc.). The survey covers about 0.24 per cent of the population of Australia and includes all people over 15 years of age, except defence personnel.
If more people are employed, then there is greater spending power in the economy. But at the same time companies may adjust the work hours of employees. If employees work less hours, and therefore get paid less, then spending power in the economy is reduced.
<a href="/images/2016/04/14/Screen%20Shot%202016-04-14%20at%203.20.12%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/14/Screen%20Shot%202016-04-14%20at%203.20.12%20PM.png" alt="">
The Bureau of Infrastructure, Transport and Regional Economics (BITRE) releases regular aviation data. The BITRE releases  Airport Traffic data and the  Australian Domestic Airline Activity publication each month as well as the  Domestic Air Fares publication. The data provides insights on airline activity as well as trends in the broader Australian economy. If more people are flying, then it suggests businesses are more active and/or consumers are more confident
What are the implications?
Interest rates remain on hold. The Reserve Bank will want to assess a lot more data before deciding the next move on rates.
The Bureau of Statistics has estimated that the number of people in the working age population. Rather than rising by 22,300 a month, the increase in the past three months averaged almost 31,000 – the biggest increase in almost two years. If this assumption is correct and retained, it may make it more difficult for the jobless rate to ease further in the next few months.
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>
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Jobless rate falls to 2½-year low: CommSec's Savanth Sebastian

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GUEST OBSERVER
Today's jobs numbers were weaker than expected, with broadly flat jobs in February (market had +14k).
However, at the same time, the unemployment rate outperformed by falling to 5.8 percent (market had 6.0 percent), due to an unexpected sharp decline in the participation rate. Measurement issues have pervaded this survey making it difficult to get a clear reading. This is the third consecutive month of weak jobs growth, but this partly reflects pay-back for very strong numbers late last year.
Cutting through the noise, the trend measures show the unemployment rate is still below its peak, suggesting gradual labour market improvement. However, unemployment is still well above its full employment level, which is likely to continue to weigh on wages growth and domestic inflation, leaving the RBA with scope to cut further.
<a href="/images/2016/03/17/Screen%20Shot%202016-03-17%20at%202.58.35%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/17/Screen%20Shot%202016-03-17%20at%202.58.35%20PM.png" alt="">
   Facts   Employment was broadly flat (up by just 300 jobs) in February (market expected +13.5k, HSBC expected +10k). Over the past six months, employment growth has averaged +20k a month. Annual employment growth has eased to 2.1 percent, down from a peak of 2.9 percent in November.   The participation rate fell by 0.3ppts to 64.9 percent, the lowest rate since June 2015.   Because of the drop in participation, the unemployment rate fell from 6.0 percent to 5.8 percent (the market and HSBC expected 6.0 percent).   - The employment-to-population ratio fell from 61.2 percent to 61.1 percent, the lowest level since October 2015.   Total hours worked fell by 0.1 percent m-o-m in seasonally-adjusted terms, and were up 2.2 percent y-o-y. Trend growth in hours worked slowed from 2.6 percent to 2.4 percent y-o-y.   Implications   Australia's official labour force survey is still suffering from measurement issues that make it complicated to interpret the results. Jobs were broadly flat in February, following falls in the previous two months, but this was after very strong growth in employment in October and November last year. A large part of the recent weakness appears to be 'payback' for the over-stated strength last year. However, it is not easy to separate the signal from the noise.   One way to do this is to look at the trend measures within the official survey. These are showing gradual improvement in the labour market. The trend measure of the unemployment rate is at 5.8 percent, down from a peak of 6.3 percent in late 2014.
Another way to do this is to look at the collection of other indicators of the labour market, including job advertisements, job vacancies and hiring intentions in the business surveys. These are showing a more modest improvement in the labour market than is implied by the official numbers (see Figure 4 below).   The other key issue is that although the range of indicators suggests that there has been a trend improvement in the labour market, the pick-up has not been enough to absorb sufficient spare capacity to put upward pressure on wages growth and domestic inflation.
Combine this with underlying inflation that is already at the bottom edge of the target band, weak global inflation and a climbing AUD, and it is likely that inflation will remain low. We expect underlying inflation to fall below the bottom edge of the RBA's 2-3 percent target band in H1 2016. Our central case has the RBA easing by a further 25bps around the middle of this year.
<a href="/images/2016/03/17/Screen%20Shot%202016-03-17%20at%203.00.14%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/17/Screen%20Shot%202016-03-17%20at%203.00.14%20PM.png" alt="" width="1256" height="562">
Paul Bloxham is chief economist (ANZ) for HSBC . Daniel Smith is economist. They can be contacted <a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">here</a>.
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Jobs numbers were weaker than expected: HSBC's Paul Bloxham

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The ABS have release figures showing unemployment rate dropping from 6 percent to 5.8 percent from January to February.
Nine News finance editor Ross Greenwood said it takes real pressure off the Reserve Bank when it comes to considering interest rate cuts.
New South Wales unemployment rate has dropped to 5.3 per cent.
South Australia's unemployment rate increased for 6.6 percent to 7.7 percent from January to February.
Finance expert <a href="https://twitter.com/PeteWargent" target="_blank">Pete Wargent took to Twitter</a> to show the unemployment rates across the country, highlighting the southern states struggles
 
<img src="/images/2016/03/17/Screen%20Shot%202016-03-17%20at%2011.56.02%20am.png" alt="" width="572" height="379">
 
 
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jrobinson-rf4aSBido9

Property 101: March unemployment numbers drop from 6 percent to 5.8 percent

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<div>The ABS released its all-important Labour Force data for Janaury 2016. It is perhaps the most important of the data releases, so let's take a canter through it in the three short parts.</div>
<div> </div>
<div>Part 1 - Employment growth</div>
<div> </div>
<div>In seasonally adjusted terms, total employment declined by -7,900 in January to 11,894,500. In trend terms, total employment increased by +19,800.</div>
<div> </div>
<div>Although this was a decline for the headline result which missed market expecations, given the strength of what has gone before, in context it wasn't too bad a result. </div>
<div> </div>
<div><a href="/images/2016/02/19/A1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/02/19/A1.jpg" alt=""></div>
<div> </div>
<div>In trend terms total employment increased by +302,500 over the past year or +2.6 per cent, which is a high rate of employment growth in historical terms. </div>
<div> </div>
<div>Click to enlarge</div>
<div><img src="/images/2016/02/19/A7.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>However, the composition of employment does not look quite so pretty, with full time employment decreasing by -40,600 in January, and part time employment increasing by +32,700. </div>
<div> </div>
<div><a href="/images/2016/02/19/A2.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/02/19/A2.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>
<div>While full time jobs growth has been solid over the past year in rising by +2.0 per cent, the rate of part time jobs growth has been exceptionally high at +3.9 per cent. This probably represents a structural shift towards more casual jobs.</div>
<div> </div>
<div>Total hours worked increased by a modest +2.0 per cent over the past year, perhaps a rather more realistic indicator of the strength of employment growth. </div>
 Part 2 - NSW &amp; QLD create the jobs <div> </div>
<div>After some previously massive months of jobs growth, employment in New South Wales (and Victoria) pulled back in January, while Queensland went on to record further gains. </div>
<div> </div>
<div>Over the past six months the economy has created +143,400 jobs, with New South Wales (43 per cent) and Queensland (38 per cent) accounting for more than four-fifths of them.</div>
<div> </div>
<div><a href="/images/2016/02/19/A3.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/02/19/A3.jpg" alt=""></div>
<div> </div>
<div>Over the past year employment growth rates have ranged from an enormous +4.7 per cent in New South Wales and +3.3 per cent in Queensland, to a distinctly uninspiring -0.9 per cent in Tasmania. </div>
<div> </div>
<div><a href="/images/2016/02/19/A4.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/02/19/A4.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>
Part 3 - Unemployment rates converge <div>The headline result showed a seasonally adjusted increase in the unemployment rate to 6.0 per cent, which will excite the pessimists. However, the result was probably more middle of the road than anything.</div>
<div> </div>
<div>The participation rate has crept up to 65.2 per cent, the highest level in nearly four years, and while the number of unemployed persons recorded is volatile, it was down by 2.6 per cent over the year.</div>
<div> </div>
<div>The trend unemployment rate ticked down a notch to 5.8 per cent, for a 27 month low. </div>
<div> </div>
<div><a href="/images/2016/02/19/A5.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/02/19/A5.jpg" alt=""></div>
<div> </div>
<div>At the state level the monthly figures were absolutely wild once again, lurching all over the place. The trend figures point towards convergence rather than divergence between the states, with New South Wales looking to be in the best nick on this measure. </div>
<div> </div>
<div><a href="/images/2016/02/19/A6.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/02/19/A6.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>
<div class="separator">The wrap</div>
<div class="separator"> </div>
<div class="separator">The 95 per cent confidence interval figures provided by the ABS (which ranged from -66,500 to +55,700 for the month) serve as a reminder that as estimates the monthly data shouldn't be taken too literally.</div>
<div> </div>
<div>The big picture suggests that although annual headline employment growth is high by historical standards, the quality of employment growth is underwhelming, with part time work and under-employment aplenty in evidence. </div>
<div> </div>
<div>As a result ongoing low wages growth is likely to be the order of the day due to the inherent level of slack in the workforce.</div>
<div> </div>
<div>The employment figures weren't too bad on the whole, but notably Goldman Sachs is now forecasting interest rate cuts of 25 basis points in both May and July, so hold on to your hats.</div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
</div>
</div>
</div>
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pwargent-M4siyDbqQY

NSW & QLD are creating the jobs: Pete Wargent

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Treasurer Scott Morrison noted only yesterday that "the rate of unemployment has been under 6 now for some months."
Not any more, based on the January figures released today.
But trend employment has continued to show strong growth, according to figures released by the Australian Bureau of Statistics (ABS) today. 
"The trend shows that around 302,000 more people were employed in January 2016 than in January 2015 and full-time employment growth was a bit stronger than part-time growth over the year, increasing by 169,800 people," General Manager of ABS' Macroeconomic Statistics Division, Bruce Hockman said.
The increase in employment has contributed to the trend employment to population ratio rising over the year from 60.7 per cent to 61.4 per cent, while the unemployment rate decreased over the year from 6.2 percent to 5.8 percent.
Over the past month, trend employment increased by 19,800 persons to 11,909,900 persons, which equates to a monthly growth rate of 0.17 per cent. 
This growth rate was slightly above the monthly average over the past 20 years (0.15 per cent), and continues the recent trend in relatively strong employment growth.  
The trend series smooth the more volatile seasonally adjusted estimates and provide the best measure of the underlying behaviour of the labour market.
The seasonally adjusted number of persons employed decreased by 7,900 in January 2016, while the number of persons unemployed increased by 30,200. 
The seasonally adjusted unemployment rate for January 2016 was 6.0 percent (up 0.2 percentage points) and the seasonally adjusted labour force participation rate was unchanged at 65.2 percent.
The ABS seasonally adjusted monthly hours worked in all jobs series increased by 10.9 million hours (0.7 per cent) to 1,656.0 million hours.
Westpac noted the rise in the unemployment rate to 6% may give the RBA a reason to pause and consider their assessment of the labour market. 
"In the most recent Statement on Monetary Policy they stated that the unemployment rate had fallen below 6% and was likely to stay there. 
"While one month is not a trend we would suggest that today’s print would make them a little less confident in that assessment," Westpac noted.
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Unemployment at 6 percent unexpectedly in early 2016

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GUEST OBSERVER
Australia saw very strong jobs growth in October. Total employment rose by 58,600, the strongest since March 2012, driven by a 40,000 gain in full time jobs. Employment is up 2.7% on a year ago.
This pushed the unemployment rate down 5.9%, from 6.2% in September.
Jobs growth is very strong in NSW (3.8%yoy) and Victoria (+3%yoy) in contrast to WA which has slowed to +1.1%yoy. As a result unemployment is now falling in NSW (to 5.5%) and Victoria (5.6%) versus WA where unemployment has risen to 6.4%.
Hours worked are also strong at +1.2% month on month or +3.8% year on year.
There is a danger in reading too much into monthly jobs data as it can be quite volatile. For example in May unemployment similarly fell to 5.9% from 6.2% in response to a 50,000 jobs gain only to bounce back in subsequent months. 
Employment growth at 2.7% year on year has now also run well ahead of the growth suggested by leading jobs indicators such as the NAB Employment intentions survey. As a result a pullback in employment could be expected next month and just as we have seen on several occasions over the last year or so, it’s still premature to say we have seen the peak in unemployment.
<a href="/images/2015/11/12/Screen%20Shot%202015-11-12%20at%203.07.50%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/12/Screen%20Shot%202015-11-12%20at%203.07.50%20PM.png" alt="" width="738" height="519">
That said, the ongoing strength in trend employment growth (now running at +19,000 jobs a month) is consistent with the economy continuing to hold up reasonably well helped along by the rebalancing of the economy evident in strong jobs growth in NSW and Victoria. 
As a result a December rate cut is now very unlikely and while I still lean to another rate cut early next year, it’s now a very close call, and we would need to see some softer economic data in the interim.
 
<a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank">SHANE OLIVER</a> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home" target="_blank">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.
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soliver-smf6LQXgW9

Australian jobs market booms, December rate cut unlikely: AMP Capital's Shane Oliver

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<div>Last week the ABS Job Vacancies series recorded New South Wales vacancies at an all-time high driven by positions in the services sector, which bodes well for Sydney employment growth. Indeed, Sydney's economic dials have all been switched to hot for a long time now. </div>
<div> </div>
<div>ANZ released its job advertisements dat<a href="https://www.media.anz.com/phoenix.zhtml?c=248677&amp;p=irol-jobad&amp;nyo=0" target="_blank">a</a> for September which showed a seasonally adjusted +3.9% jump following on from a +1.3% lift in August. </div>
<div> </div>
<div>This was the strongest monthly gain in 15 months and the trend estimate has now been rising since November 2013.</div>
<div> </div>
<div><a href="/images/2015/10/07/ANZ.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/10/07/ANZ.jpg" alt=""></div>
<div>
<div>ANZ noted that the series now appears to be stronger than had previously been thought, and that the economy seems to be adjusting relatively well to the decline in mining investment.</div>
<div> </div>
<div>In other news the FCAI reported that an all-time record 1,143,104 new motor vehicle vehicles for the year to September after a +6.8 per cent year-on-year jump in the month.</div>
<div> </div>
<div>With the services PMI gauge also recording a fourth month of expansion for the first time since March 2008 (following on from a 7 year high reading last month), interest rates will be left on hold this week. </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
</div>
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Job ads biggest jump in 15 months: Pete Wargent

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The Australian Bureau of Statistics (ABS) recently published labour force statistics for May 2014.
The data reported that the national unemployment rate was steady at 5.8%, the third month in a row it had been recorded at this level. The rate of unemployment is up from 5.5% a year ago but still well below the 6.25% many had predicted it would have reached by now.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-12.jpg" rel="wp-prettyPhoto[g3399]"><img class="aligncenter size-full wp-image-3400" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-12.jpg" alt="Chart 1" width="500" height="182"></a>
Source: RP Data, ABS
The full-time unemployment rate at a national level is slightly higher than the overall unemployment rate, recorded at 6.0%.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-22.jpg" rel="wp-prettyPhoto[g3399]"><img class="aligncenter size-full wp-image-3401" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-22.jpg" alt="Chart 2" width="500" height="185"></a>
Source: RP Data, ABS
Although we have seen a fairly stable unemployment rate of late, the employment participation rate is continuing to trend lower.
A key challenge for the government is to encourage the long-term unemployed persons back into the workforce. Although the participation rate data suggests that this may not be working, keep in mind also that with an ageing population more and more baby boomers are reaching retirement age and exiting the workforce.
The current workforce participation rate is recorded at 64.6% which is at around its lowest level since March 2006.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-32.jpg" rel="wp-prettyPhoto[g3399]"><img class="aligncenter size-full wp-image-3402" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-32.jpg" alt="Chart 3" width="500" height="181"></a>
Source: RP Data, ABS
Turning to actual employment, in May 2014 there was 11,564,555 persons employed nationally, 8,068,338 employed full-time and 3,496,216 employed part-time.
As at May 2014, 30.2% of all employed persons were employed part-time. As you would expect, females are much more likely to be employed on a part-time basis compared to males. As at May 2014, 16.9% of total males employed were employed part-time compared to 45.9% of females employed.
Although the proportion of males employed part-time is much lower than females it has been trending higher and is close to an historic high.
<img class="aligncenter size-full wp-image-3403" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-42.jpg" alt="Chart 4" width="500" height="182">
Source: RP Data, ABS
Over the 12 months to May 2014, the number of employed persons has increased by 98,700 persons with a 49,700 person increase in full-time employment and a 49,000 person increase in part-time employment.
At the same time a year ago, total employment had increased by 102,900 persons with full-time employment increasing by 22,100 persons and part-time employment rising by 80,700 persons.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-51.jpg" rel="wp-prettyPhoto[g3399]"><img class="aligncenter size-full wp-image-3404" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-51.jpg" alt="Chart 5" width="500" height="186"></a>
Source: RP Data, ABS
The national data highlights that the unemployment rate has seemed to have stabilised over recent months and jobs continue to be created however, the data at a state level is somewhat more varied. Based on the less volatile trend data, Tasmania has the nation’s highest unemployment rate at 7.5% and the Northern Territory the lowest at 3.3%.
As you can see there is a big discrepancy in unemployment on a state by state basis.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-61.jpg" rel="wp-prettyPhoto[g3399]"><img class="aligncenter size-full wp-image-3405" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-61.jpg" alt="Chart 6" width="500" height="179"></a>
Source: RP Data, ABS
Looking at the current tend unemployment rate compared to trend unemployment a year ago we can see some different trends across the states.
New South Wales was the only state where there was no change to unemployment over the year, steady at 5.5%.
The unemployment rate rose in Victoria, Queensland, South Australia and Western Australia with the largest increases in Victoria and South Australia.
In Tasmania, Northern Territory and Australian Capital Territory the unemployment rate is lower over the year with a substantial fall in the Northern Territory.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-71.jpg" rel="wp-prettyPhoto[g3399]"><img class="aligncenter size-full wp-image-3406" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-71.jpg" alt="Chart 7" width="500" height="181"></a>
Source: RP Data, ABS
The employment participation rate also varies significantly across the states. As you can see from the above chart, employment participation is trending lower across most states and below its recent peak in each state.
The state and territories with the highest participation rate are: Northern Territory (76.2%), Australian Capital Territory (70.9%), Western Australia (68.2%) and Queensland (66.4%).
Across the remaining states, participation is lower, recorded at 63.0% in New South Wales, 64.2% in Victoria, 62.0% in South Australia and 60.9% in Tasmania.
Overall the May release showed a level of stability returning to the unemployment rate.
Keep in mind the federal budget forecasts indicate the unemployment rate to peak at 6.5% however, it is important to note that previous government forecasts expected the unemployment rate to be at 6.2% currently.
With an ageing population we are likely to see the employment participation rate trend lower, which will increase pressure on business to improve productivity.
On a state-by-state basis the employment picture varies and it will important to keep an eye labour market conditions particularly in Victoria and South Australia where the unemployment rate has risen sharply over the past year.
Keep in mind upcoming high-profile manufacturing closures within the car industry are yet to really bite and will impact both Victorian and South Australian jobs.
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