Employment reaches 'record high'

May 5th, 2014

 Employment rises across the nation

There are several factors that determine how well Australia's businesses are performing and the rate of employment is one of the most effective.

Figures from April show 1.308 million Australians were without work, which marks a decline of 1.2 per cent compared to the previous month, Roy Morgan Research revealed.

Of those who were employed, 7.56 million were in full-time positions, while 3.75 million had taken up part-time roles.

The group's Gary Morgan explained how employment has now reached 11.32 million, which makes it the highest figure ever recorded by the organisation.

"This rise has mainly been driven by an increase in people looking for full-time work (now 628,000, up 120,000 since April 2013) while an additional 34,000 Australians are now looking for part-time work (680,000) than 12 months ago," he explained.

Mr Morgan emphasised the need for policies to continue to support jobs growth - especially in the federal budget that is due to be released later this month.

The government needs to take steps to encourage companies to take on new staff and do whatever necessary to make sure business finance remains on an even keel.

In order to make this happen, Mr Morgan is calling on the prime minister to "immediately undertake significant labour market reforms" that will reinvigorate the Australian economy and provide new opportunities.

Figures released by Veda last month suggested companies are in search of greater funding for their operations, indicating many of them have their sights set on expansion.

The Veda Quarterly Business Credit Demand Index for the first three months of the year showed business loan applications increased 4.2 per cent, while trade credit applications were up 1.9 per cent.

However, companies in the mining, utilities and transport industries were less inclined to seek finance for their operations over the first quarter of 2014.

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