Australia’s labour market showed resilience during the September 2024 quarter, driven by working-age population growth and steady job creation. Employment increased by 3.1% over the year, well above the decade’s average annual growth rate of 2.3%. While growth has moderated since its October 2022 peak of 7.3%, it remains ahead of the working-age population growth rate of 2.4%.
Victoria and New South Wales led the charge in employment gains, while Tasmania was the only state to record a decline. The strongest job growth sectors over the year to August 2024 included Professionals (+120,200 jobs, 3.3%), Community and Personal Service Workers (+75,200 jobs, 4.7%), and Technicians and Trades Workers (+57,800 jobs, 3%).
However, the demand for Veterinarians highlights a labour market challenge. This occupation has seen employment surge by 32.1% over the past five years - nearly three times the national average.
The average time to fill Veterinarian vacancies has jumped from eight weeks in 2014 to 25 weeks in 2023, according to industry data. Additionally, half of all current Veterinarian vacancies are now open to graduates, more than double the proportion a decade ago.
Veterinarians have consistently appeared in national shortage on the Occupation Shortage List, reflecting long-term recruitment challenges.
For more detailed analysis of these trends, read the full report.
