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The Australian labour market in 2021

Author

Listed:
  • Elisa Birch

    (Economics Department, Business School, The University of Western Australia)

  • Alison Preston

    (Economics Department, Business School, The University of Western Australia)

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.

Suggested Citation

  • Elisa Birch & Alison Preston, 2022. "The Australian labour market in 2021," Economics Discussion / Working Papers 22-02, The University of Western Australia, Department of Economics.
    • Handle: RePEc:uwa:wpaper:22-02
    Note: MD5 = a447e198a2fe90dcc4048e8feb748856
    as

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    File URL: https://ecompapers.biz.uwa.edu.au/paper/PDF%20of%20Discussion%20Papers/2022/DP%2022.02_Birch%20and%20Preston.pdf
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    References listed on IDEAS

    as
    1. Kadir Atalay & Woo-Yung Kim & Stephen Whelan, 2014. "The Decline of the Self-Employment Rate in Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 47(4), pages 472-489, December.
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    More about this item

    Keywords

    Employment; unemployment; underutilisation; wages; younger workers; COVID-19; labour market.;
    All these keywords.

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