Weekend Edition: The Lowdown on High Employment

NAB Morning Call

Friday 17th January 2025

Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.

The ABS Labour Market data showed a strong rise in the number of people employed in Australia. The unemployment rate at 4 percent is where it was a year ago, but more people have joined the workforce. So, why are more people taking on jobs? Phil talks to Bjorn Jarvis, branch head for Labour Statistics at the ABS. He provides some useful answers about who these new workers are and the perplexity about why Australia has a higher participation rate than many other countries. He provides some useful insights, but naturally steers away from the question everyone has - is this low level of unemployment and high participation inflationary? And, after a year around 4 percent, is there anything to suggest the unemployment rate will tick higher anytime soon?

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