Job opportunities

Broad opportunities for employment and well-paid, secure jobs

Metrics

  • Unemployment rate
  • Long-term unemployment rate
  • Labour force underutilisation rate (hours-based)

Why this matters

Well-paid, secure jobs provide much more than a source of income. They open up opportunities to broaden and deepen relationships, are a source of self-esteem and can underpin a sense of purpose.

Widespread access to employment is the key to a healthy, happy and prosperous society.

Unemployment is a measure that captures the extent to which people looking for work, can get it. The duration of unemployment also matters for wellbeing. Underutilisation includes those who are currently working but wish to work more hours.

Progress

Unemployment rate

In seasonally adjusted terms, in July 2024, the unemployment rate was 4.2% (4.5% for men and 3.9% for women).

While the unemployment rate has risen slightly from a low of 3.5% in July 2022, it is still at very low levels compared with rates over the past 20 years.

Long-term unemployment rate

In seasonally adjusted terms, in June 2024, the long-term unemployment rate was 0.7% (0.8% for men and 0.7% for women).

While the long-term unemployment rate has risen slightly from a low of 0.6% in April 2023, it is still at very low levels compared with rates over the past 20 years.

Labour force underutilisation rate (hours-based)

In May 2024, the labour force underutilisation rate (hours-based) was 5.3% (4.9% for men and 5.8% for women).

While the underutilisation rate has risen from a low of 4.4% in November 2022, it is still at relatively low levels since the commencement of the series in August 2014.

The labour force underutilisation rate has consistently been higher for women compared with men, but the difference has decreased over time. The difference was 1.8 percentage points in May 2024, compared with 0.9 percentage points in August 2014.

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