Home' Employment Forecast : MyCareer Employment Forecast April 2011 Contents Total Jobs
Change in Jobs
Change in Jobs Quarterly
The New South Wales economy continues to grow solidly following both the GFC-induced slowdown and the long-term hangover
from the boom conditions of the 1990s. Economic growth was solid again last quarter, with the economy growing at 3.3% in
December, consolidating fve quarters of robust growth.
This expansion continues to translate into employment. The NSW job market improved signifcantly in 2010 and continued in a
similar vein in the frst part of 2011, with jobs growing at an annual rate of 2.7% in the year to February 2011. This is an annual
rate of 95,000, only slightly behind the record of 109,000 set in 1996. Full time jobs are being added, now increasing at 2.7% on
an annual basis. They had been declining at an annual rate of 1.8% in early 2010. Part time jobs also continue to grow but at a
slower rate as employers take on more full time employees due to their growing confdence in the economy.
In a further sign of better economic times, unemployment in NSW on a trend basis has fallen below 5% and is approaching the
record low of 4.5% achieved just prior to the start of the GFC. This low level indicates there is already limited spare capacity for
the labour force to grow. At the same time, job vacancies in the state continue to recover and are now close to pre-GFC levels.
Business employment intentions have continued to grow in NSW, +10.5 in the year to December 2010, well up from the trough
of -24 in the March 2009 quarter. On a trend basis, this is the highest of all the states. The robust economic growth, backed
by better employment intentions, means that the EMDA model is showing stronger jobs growth for NSW, with jobs up 3.3 % by
February 2012. With employment predicted to grow in the state, there are likely to be more skills shortages recorded.
MyCareer Employment Forecast
New South Wales
NSW adds an impressive 95,000 jobs in a year, which is close to a record
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