News

The Australian Federal Government's leading indicator of employment is pointing tentatively to a quickening pace in jobs growth.

The Department of Education, Employment and Workplace Relations (DEEWR) says its monthly leading indicator of employment has risen for three straight months, which is a welcome change.

''The indicator is tentatively foreshadowing a quickening in the pace of employment growth to above its long-term trend rate of 1.9 per cent per annum,'' the department said on Wednesday.

Skilled Professions…
The rise in skilled vacancies was widespread with increases evident in most professions monitored by the department. The largest monthly rise was recorded in wood trades, up 7.7 per cent. Engineering work rose 5.7 per cent to $18.203 billion in the June quarter, from $17.226 billion in March.

Increases in skilled vacancies were recorded in most states and territories in August. The largest monthly rise was in Victoria with a 5.0 per cent increase.

Economists expect further improvements in coming quarters given the recent strength of home building approvals - lifted by demand from first-home buyers that have been lured to the housing market by low interest rates and a more generous grant from the government.

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