A new survey of job vacancies in Australia’s top-earning sectors finds the top earners are taking advantage of Australia’s low vacancy rates.
Key points:The unemployment rate is at a historic low of just 3.6 per cent, according to the latest census dataIt shows that a large proportion of Australia is struggling to find work in the private sectorIt’s estimated there are 1.6 million Australians unemployed, of which 1.1 million are in the public sectorSource: Australian Bureau of Statistics (ABS)The ABS’s 2016 Census revealed Australia’s unemployment rate fell to a record low of 3.5 per cent.
That’s down from a peak of 3 per cent in December 2009, when Australia was hit by a recession and the economic downturn.
The ABS said there are an estimated 1.3 million Australians jobless, of whom 1.2 million are unemployed in the “public sector”.
“This represents a decline of 1.8 million people since November 2010, which was an extremely sharp drop of 2.1 per cent,” the ABS said in a statement.
It’s a sharp drop from the unemployment rate in November 2011, when unemployment stood at 6.6 percent.
“While the rate has fallen slightly in recent years, the ABS has been concerned that the unemployment trend could deteriorate in coming years,” the statement said.
“The unemployment trend has also been affected by the large number of Australians seeking work in low-skilled sectors, such as hospitality, retail and construction.”
What’s on offer?
There are a number of services and jobs available, including:Bureau of StatisticsThe ABS says the number of jobs available in Australia has increased from just under 14 million in November 2020 to 15.7 million in December 2019.
The number of vacancies is also rising, with 1.4 million vacancies in December.
There are currently about 5.4 per cent vacancies across Australia, according the ABS.
What you need to know about the census:What are the top earning professions?
The ABS has compiled a list of the top ten most lucrative jobs in Australia, with the top 5 earning $10 million or more.
The top 10 top earning jobs include:CEO: $5.5 millionA software engineer: $3.9 millionFinancial manager: $2.7 billionConstruction engineer:$2.2 billionManufacturing engineer: $2 millionEngineer: $2 millionA professional athlete: $1.6mA financial planner: $1.5mInformation technology specialist: -$900,000In terms of pay, it’s the most lucrative career for men, with average salaries of $31,000 and $32,000, respectively.
The most lucrative occupations for women, however, are in marketing and business management.
It comes as the unemployment rates of the two sexes are on a long-term downward trend.
The unemployment rate for men fell from 7.1 percent in November to 6.9 percent in December, while the unemployment for women fell from 6.4 percent to 5.6.
The rate for Australians aged 15-24 fell to 6 per cent between October and December, with a rise of 0.4 percentage points since then.
The labour market is improving, with many people working more hours, and the unemployment figures show many Australians are finding themselves at a crossroads.
But for some, a sense of financial security is difficult to come by.ABC/ReutersTopics:employment,industry,employment,people,jobs,government-and-politics,government,economy,employment-policy,jobs-and.employment,jobsandtourism,work,employment