The Australian Capital Territory (ACT) is a relatively small labour market. Public Administration and Safety is the largest employing industry (66,700), followed by Health Care and Social Assistance (27,100) and Professional, Scientific and Technical Services (22,500). The ACT has the most highly educated workforce in Australia, with more than three quarters of workers holding post-school qualifications.
Current conditions (to January 2019)
Labour market conditions in the ACT have softened over the last year, with employment decreasing by 2,300 (or 1.0%). Full-time employment has fallen by 6,500 (or 3.8%) over the year, while part-time employment has increased by 4,200 (or 6.9%). The territory’s unemployment rate has declined by 0.6 percentage points over the year to 3.5% in January 2019, the lowest rate of any state or territory, although the fall was driven by a 1.3 percentage point decline in the participation rate to 69.6% in January 2019.
Conditions for youth in the ACT have improved over the year, with youth employment increasing by 600 (or 1.9%). The youth unemployment rate in the ACT has fallen by 2.3 percentage points over the year to 8.6% in January 2019, the lowest rate of any state or territory.
The short-term outlook for the ACT labour market is reasonably positive. The ACT Treasury has forecast employment growth of 1¾% in 2019-20. Over the five years to May 2023, employment in the ACT is projected to increase by 5.7%.
Sources: ABS, Labour Force (trend and annual averages of original data); ABS, Education and Work; Department of Jobs and Small Business, Employment Projections; Department of Treasury and Finance, ACT Treasury
For more information see lmip.gov.au