Jobs and Skills Australia has released the May edition of the International Labour Market Update, offering insights into workforce trends and skills shortages for Australia and selected international economies. This edition, which draws on findings in reports released by various international bodies, provides a broader view of the global forces shaping employment outcomes.
According to the Organisation for Economic Co-operation and Development (OECD), global market conditions were favourable in the March quarter of 2025, following a period of slow employment growth in the second half of 2024. While short-term conditions improved, both the OECD and the International Monetary Fund (IMF) expect global economic growth to ease in 2025 due to higher and broader increases in trade barriers, which are placing additional pressure on international trade. The IMF also expects that population ageing will weigh significantly on labour productivity and labour supply over the medium term.
The May edition also includes specific labour market information for the United States, Canada, the United Kingdom, New Zealand, Japan, the Republic of Korea, and the Euro Area. These insights offer a comparative view of employment trends and occupational demand across selected economies.
For more insights, read the full report.
If you have any questions or comments or want to know more, email: migration@jobsandskills.gov.au.