Hiring surge continues
The Aussie jobs market keeps on keeping on, with total employment rising by a further 44,000 in January 2025, seasonally adjusted, to a record high of 14,634,300 people.
Over the past 3 months, the increase in employment has also averaged 44,000, as strong as anything we've seen since September last year.
Another rise in female participation took the national participation rate to a fresh record high of 67.3 per cent, and the employment to population ratio also increased further in January.
As such, the seasonally adjusted number of unemployed persons rose by 23,000, taking the unemployment rate up from 3.98 per cent to 4.11 per cent, but a lot of these folks will most likely be hired by the time next month's figures roll around.
There was a modest increase in the underutilisation rate to 10.1 per cent, and hours worked reverted lower in January, but the underemployment rate held at the remarkably low figure of just 6 per cent.
You don't have to look too hard to find the source of Australia's jobs market strength, with a hugely powerful increase in employment in healthcare and social assistance roles in evidence since 2020.
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With such solid figures continuing for the labour force survey, there will be no need for further changes in interest rates over the coming months, with the next quarterly inflation data not due for release until April 30.
The Coalition party is arguably favourite to win the upcoming election - at least according to the bookies - and has pledged to work with the regulator to remove some of the barriers to mortgage lending imposed by the stringent assessment buffer.
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