Latest news with #BlairChapman
SBS Australia
2 days ago
- Business
- SBS Australia
Australia's unemployment rate set to remain steady at 4.1 per cent
Australia's jobless rate is expected to remain low, while those seeking new work are likely to receive a boost to their pay packets. Labour force figures for May, to be released on Thursday, are tipped to show the unemployment rate holds steady at 4.1 per cent. Economists predict about 20,000 new jobs were added to the economy for the month of May, following a bumper increase of 89,000 in April. With the labour force participation rate also set to remain unchanged at 67.1 per cent, the Australian Bureau of Statistics figures are poised to show a tightening of the jobs market. Listed salaries have increased by 3.6 per cent for the year to May, according to a report by online job site Seek. The site's advertised salary index showed growth in pay rates for new positions has remained steady over the past year. But monthly growth in May was just 0.2 per cent, the smallest one-month increase since October. Seek senior economist Blair Chapman said the increase in wages advertised was a welcome rise. "The growth in average advertised salaries is currently outpacing living costs, which is good news for those switching employers as they are likely gaining a real wage increase," he said. "This means they can purchase more goods and services or save some of their additional earnings." Treasurer Jim Chalmers said reducing unemployment levels had also been accompanied by a decrease in inflation. "No major advanced economy has combined unemployment in the low 4s with inflation under 2.5 and three years of continuous growth," he said in an address at the National Press Club on Wednesday. "We know this welcome progress in the national aggregate data doesn't always translate into how people are feeling and faring in local communities. But real wages are growing again." Chalmers has flagged potential tax reform during his second term in the role, which will be examined at a productivity summit to be held in Canberra in August. "This is all about testing the country's reform appetite. "I am prepared to do my bit, the government is prepared to do its bit, and what we'll find out in the course of the next few months is whether everyone is prepared to do their bit as well."
Yahoo
2 days ago
- Business
- Yahoo
Unemployment to hold steady as pay packets swell
Australia's jobless rate is tipped to remain low, while those seeking new work are in line for a boost to their pay packets. Labour force figures for May, to be released on Thursday, are tipped to show the unemployment rate hold steady at 4.1 per cent. Economists predict about 20,000 new jobs will be added to the economy for the month, following a bumper increase of 89,000 in April. With the labour force participation rate also set to remain unchanged at 67.1 per cent, the Australian Bureau of Statistics figures are poised to show a tightening of the jobs market. Listed salaries have increased by 3.6 per cent for the year to May, according to a report by online job site Seek. The site's advertised salary index showed growth in pay rates for new positions have remained steady over the past year. But monthly growth in May was just 0.2 per cent, the smallest one-month increase since October. Seek senior economist Blair Chapman said the increase in wages advertised was a welcome rise. "The growth in average advertised salaries is currently outpacing living costs, which is good news for those switching employers as they are likely gaining a real wage increase," he said. "This means they can purchase more goods and services or save some of their additional earnings." Treasurer Jim Chalmers said reducing levels of unemployment had come about while inflation had also been brought down. This is why economic reform matters. We've made a lot of progress together in our first term making our economy more productive, dynamic and resilient to help deliver a better standard of living for all know there's more to do and that's why the reform… — Jim Chalmers MP (@JEChalmers) June 18, 2025 "No major advanced economy has combined unemployment in the low 4s with inflation under 2.5 and three years of continuous growth," he said in an address at the National Press Club on Wednesday. "We know this welcome progress in the national aggregate data doesn't always translate into how people are feeling and faring in local communities. But real wages are growing again." The treasurer has flagged potential tax reform during his second term in the role, which will be examined at a productivity summit to be held in Canberra in August. "This is all about testing the country's reform appetite," Dr Chalmers said. "I am prepared to do my bit, the government is prepared to do its bit, and what we'll find out in the course of the next few months is whether everyone is prepared to do their bit as well."
Time of India
09-06-2025
- Business
- Time of India
Highest paying jobs in Australia in 2025 you need to pursue for the biggest salary hikes
Australians aiming to have a big bank balance and more dollars in their pockets may want to consider roles in government, defence, finance, and construction. New data from the Global employment agency, Seek , reveals that advertised salaries for some jobs have jumped by over 25 per cent since 2024. Defence analysts have seen the fastest salary growth, with advertised pay rising 26.8 per cent to an average of $130,117 per annum. The data highlights this role, often within government and defence, as one of the most rewarding in terms of salary increase since 2024. Also Read: World's largest iron ore mine discovered, $6 trillion find could make Australia unstoppable Taxation consultants came in next with a 24.5 per cent jump, followed by banking operations analysts at 21.1 per cent, and maintenance managers in the manufacturing, transport, and logistics sector at 19 per cent. Live Events Many of the fastest-growing roles are in skilled technical fields. Blair Chapman , senior economist at Seek, said electrical engineering salaries in the mining sector have increased rapidly. Mining companies, he noted, are now competing with renewable energy firms for electrical engineers, pushing up pay to attract and retain talent. The construction industry is also seeing gains. Project administrators on building sites have had their advertised salaries climb 16.8 per cent over the past year. Chapman attributes this to increased building approvals and infrastructure work since early 2024, creating high demand for administrative talent on construction projects. While technical and managerial roles saw the biggest jumps, entry-level workers haven't been left out. Retail customer service representatives received a 16.2 per cent salary increase, with the average advertised salary now at $68,435. Similarly, assistants in hospitality and tourism saw a 15.6 per cent rise, lifting their average to $70,762. These developments come just after the Fair Work Commission announced a 3.5 per cent increase in Australia 's national minimum wage, starting July 1, 2025. This change raises the minimum annual wage to $49,296, or $24.95 per hour. Employment Minister Amanda Rishworth welcomed the move, calling it a 'win for workers.' She said the government supports sustainable real wage growth and wants to ensure workers aren't left behind. For Australians planning a career move or new job, targeting sectors with proven salary growth, particularly in technical, financial, or project-based roles, could offer quicker financial gains.
News.com.au
09-06-2025
- Business
- News.com.au
Jobs with fastest-growing salaries in Australia revealed
Australians looking for a quick pay rise should think about becoming government and defence analysts after salaries for those roles jumped more than 25 per cent in the past year. The average salary for analysts is now $130,117 after a 26.8 per cent rise in their advertised pay rates since 2024, according to new data from Seek. The next highest pay bumps were 24.5 per cent for taxation consultants, 21.1 per cent for banking operations analysts, and 19.0 per cent for maintenance managers in the manufacturing, transport and logistics sector. Many of the roles with the highest salary growth were in skilled jobs in key industries, including infrastructure. Seek senior economist Blair Chapman said the salary growth in electrical engineering roles in the mining sector had been 'relatively rapid' over the past year. 'The mining sector pays some of the highest wages of any sector and they are increasingly competing with renewable energy providers for roles like electrical engineers, which is likely driving them to offer high wages to keep and attract workers into the sector,' Mr Chapman said. There was also growth in the building sector, with the average advertised salary for project administrators on construction projects up 16.8 per cent in the past year. 'An increase in building approvals and commencements, which were sitting around decade lows at the beginning of 2024, alongside ongoing infrastructure projects, has likely driven an increase in the competition for project administrators,' Mr Chapman said. 'This has contributed to the strong salary growth.' But all is not lost for those working entry-level roles. Customer service representatives working in retail saw a 16.2 per cent bump, up to an advertised salary of $68,435. Assistants in hospitality and tourism received a 15.6 per cent pay rise, bringing them to an average advertised salary of $70,762. This new data comes just days after the Fair Work Commission announced a 3.5 per cent increase in the minimum wage from July 1. Workers on the national minimum will earn at least $49,296 per year or $24.95 per hour. At the time, Employment Minister Amanda Rishworth welcomed the increase as a win for workers. 'Our government believes that workers should get ahead with an economically sustainable real wage increase,' Ms Rishworth said.
Yahoo
09-06-2025
- Business
- Yahoo
Jobs with fastest-growing salaries revealed
Australians looking for a quick pay rise should think about becoming government and defence analysts after salaries for those roles jumped more than 25 per cent in the past year. The average salary for analysts is now $130,117 after a 26.8 per cent rise in their advertised pay rates since 2024, according to new data from Seek. The next highest pay bumps were 24.5 per cent for taxation consultants, 21.1 per cent for banking operations analysts, and 19.0 per cent for maintenance managers in the manufacturing, transport and logistics sector. Many of the roles with the highest salary growth were in skilled jobs in key industries, including infrastructure. Seek senior economist Blair Chapman said the salary growth in electrical engineering roles in the mining sector had been 'relatively rapid' over the past year. 'The mining sector pays some of the highest wages of any sector and they are increasingly competing with renewable energy providers for roles like electrical engineers, which is likely driving them to offer high wages to keep and attract workers into the sector,' Mr Chapman said. There was also growth in the building sector, with the average advertised salary for project administrators on construction projects up 16.8 per cent in the past year. 'An increase in building approvals and commencements, which were sitting around decade lows at the beginning of 2024, alongside ongoing infrastructure projects, has likely driven an increase in the competition for project administrators,' Mr Chapman said. 'This has contributed to the strong salary growth.' But all is not lost for those working entry-level roles. Customer service representatives working in retail saw a 16.2 per cent bump, up to an advertised salary of $68,435. Assistants in hospitality and tourism received a 15.6 per cent pay rise, bringing them to an average advertised salary of $70,762. This new data comes just days after the Fair Work Commission announced a 3.5 per cent increase in the minimum wage from July 1. Workers on the national minimum will earn at least $49,296 per year or $24.95 per hour. At the time, Employment Minister Amanda Rishworth welcomed the increase as a win for workers. 'Our government believes that workers should get ahead with an economically sustainable real wage increase,' Ms Rishworth said. Error in retrieving data Sign in to access your portfolio Error in retrieving data
