📋 Tender Overview
The labour force figures released today by the ABS show that the Australian labour market continued to recover at the end of 2020 with employment increasing by 50000 in December. Encouragingly full-time jobs increased by 35700 in December meaning almost 120000 full-time jobs have come back over November and December accounting for the majority of employment growth over this period.Significantly women accounted for the vast majority of the rise in employment in December with female employment increasing by 45800 or 0.8 per cent while male employment also rose by 4300 or 0.1 per cent.It is also encouraging that full-time jobs for women rose strongly over the month up by 39900 or 1.2 per cent.Importantly while employment fell by 872100 between March and May it has since increased by 784500 over the last seven months recovering almost 90 per cent of the jobs lost so far during the pandemic.The level of unemployment in Australia fell by 30100 or 3.2 per cent to 912000 in December. The unemployment rate also decreased in December by 0.2 percentage points to 6.6 per cent but is well above the 5.2 per cent recorded in March.The participation rate rose by 0.1 percentage points over the month to a record high of 66.2 per cent in December 2020 and is above the 65.9 per cent recorded in March 2020.The female participation rate at 61.4 per cent in December 2020 also remains close to the record high of 61.5 per cent in January 2020.Significantly the underemployment rate fell by 0.8 percentage points over the month to 8.5 per cent in December 2020 and is now below its pre-COVID rate of 8.8 per cent in March 2020. There are now 25900 or 2.1 per cent fewer underemployed people than there were in March 2020.Minister for Employment Skills Small and Family Business Senator the Hon Michaelia Cash said the Government remains acutely aware that the economic and labour market fallout from COVID-19 will continue for some time to come.That is why the Morrison Government has committed an unprecedented 507 billion in economic support to help rebuild the economy and put Australia back on the road to recovery Minister Cash said.This includes 257 billion in direct economic support including more than 101 billion in JobKeeper payments to help cushion the impact of COVID-19 which has led to the most severe global economic crisis since the Great Depression.This is the single largest economic support measure that any Australian Government has introduced which will help mitigate the difficulties that businesses and employees are encountering as a result of COVID-19.The Morrison Governments Economic Recovery Plan has been described by the OECD as key to saving jobs and will also continue to help boost Australias economic recovery create further employment opportunities and help to secure this countrys economic future.
