The Australian labour market in 2021

Elisa Birch and Alison Preston
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Elisa Birch: Economics Department, Business School, The University of Western Australia, http://www.web.uwa.edu.au/person/elisa.birch
Alison Preston: Economics Department, Business School, The University of Western Australia, http://www.web.uwa.edu.au/person/alison.preston

No 22-02, Economics Discussion / Working Papers from The University of Western Australia, Department of Economics

Abstract: This article provides a review of the Australian labour market in 2021. It describes patterns of employment, unemployment and other key labour market outcomes in the year, including wages. In the year to September 2021, total employment increased by 2.6% for males and 2.2% for females, driven by a growth in full-time employment. While most labour market indictors returned to their pre-pandemic levels in 2021, young adults, particular men, casual employees, the self-employed were most disadvantaged by COVID-19. New South Wales and Victorian residents were similarly adversely affected. Notwithstanding inflationary fears, in the year to September 2021 headline inflation increased by 3.0% and the wage price index by 2.2%, rendering a fall in real wages during the year. Despite record low unemployment at year’s end and a positive economic outlook for 2022, the future remains unclear.

Keywords: Employment; unemployment; underutilisation; wages; younger workers; COVID-19; labour market. (search for similar items in EconPapers)
Pages: 41
Date: 2022
New Economics Papers: this item is included in nep-lab
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