2024 Labour Market Update - Perth

2024 Perth Market Insights

Motivated Workforce vs. Diminished Advertisements: The high percentage of active job seekers (78%) contrasts with the decrease in job advertisements over the past year (-3.0%). Despite the decline in job ads, the presence of a motivated workforce suggests that there is still significant talent available for recruitment. Employers may need to explore alternative recruitment strategies, such as tapping into passive job seekers or utilizing networking platforms, to connect with potential candidates effectively.

Diverse Employment Opportunities: Online job vacancies are distributed as follows: 10% casual, 9% temporary/contract work, 8% part-time, and 73% full-time positions. The breakdown of online vacancies across various employment types (casual, temporary/contract, part-time, and full-time) indicates a diverse range of opportunities available to job seekers. This diversity reflects the evolving nature of work preferences and the need for flexibility among workers. Employers can leverage this diversity by offering tailored employment packages to attract candidates with different lifestyle needs and career aspirations, thereby enhancing recruitment and retention efforts.

Stable Unemployment Rate Amidst Economic Changes: Despite the decrease in job advertisements, Western Australia's unemployment rate remains relatively low at 4.0%. This stability suggests that while there may be shifts in specific sectors or industries, the overall labor market is resilient. Employers can capitalise on this stability by investing in workforce development initiatives, such as upskilling and reskilling programs, to enhance the employability of workers and meet evolving business needs.

In summary, while Western Australia's labour market faces challenges such as a decrease in job advertisements, the region also presents opportunities for employers to tap into a motivated and diverse pool of talent. By adopting innovative recruitment strategies and investing in workforce development, employers can navigate the evolving labour landscape and build a competitive advantage in attracting and retaining top talent.

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