New South Wales labour market update:
Key trends and insights for 2024
New South Wales enters 2024 with a labour market marked by mixed signals. The unemployment rate remains low at 3.7%, indicating a generally favourable environment for job seekers despite a 4.6% annual decline in job advertisements. With 74,400 online job vacancies and 73% of job seekers actively pursuing employment, competition remains strong.
Employers in the state offer a wide range of opportunities, with 77% of roles being full-time and a smaller share of part-time, temporary, and casual positions available. The decline in job ads could point to a cautious approach from employers amid broader economic uncertainty.
Nonetheless, key sectors such as construction, healthcare, and renewable energy are likely to offer continued employment opportunities. As monetary tightening persists, employers may face challenges in attracting top-tier talent, particularly in highly skilled fields like technology and engineering.
