Sydney Job Market Update: July / August 2024

See the following Sydney Job Market Update for the July / August 2024 period:

*% Change of job opportunities from previous monthly period

Market Observations:

• The Job's Report from the RCSA was released in mid July: Here is an overview of some key figures in the June Quarter:

  • In the June quarter, the Australian job index fell 9.5% from the previous quarter.

  • This quarter also saw a more significant decline in flexible work, down 12.7%, while permanent work fell 8.7%.

  • The largest occupational group decline this quarter was Technology Professionals, where job postings fell a huge 23.4% and postings are now down more than one third in a year.

• In data released by ABS Labour Force for July 2024, the unemployment rate slightly increased by 0.1 percentage points to 4.2%.

Key Legislative Update:

• August 26th marks the implementation of significant changes under the Labor Government's Closing Loopholes legislation, affecting worker classification, pay equity, and job security measures. Please reach out if you need any guidance or resources on how this may impact your business.