Australia’s employment story has been one of steady growth, rising wages, and expanding opportunity. Despite global uncertainty, the nation’s labour market continues to outperform expectations, giving households and jobseekers plenty of reasons for optimism.

Record Employment Across the Country

Australia’s workforce is larger than ever before. The latest data from the Australian Bureau of Statistics shows that the number of people in employment rose from 12.52 million in 2020 to 14.52 million in 2024 – a gain of two million jobs in just four years.

This surge in employment has kept unemployment at just 4.1%, near record lows, even as population growth continues. While some economists expect a slight increase in unemployment through 2026, the labour market remains remarkably tight, with many industries still competing for skilled workers.

Wages Growing Faster Than Inflation

Wage growth has been another bright spot in Australia’s economic recovery. In May 2025, average weekly earnings for full-time adults climbed past the $2000 mark for the first time, reflecting a 4.5% annual increase.

Even better, inflation sat at just 2.1% during the same period, meaning Australians are finally enjoying real wage growth after years of cost-of-living pressure. Rising pay packets are helping to boost consumer confidence and household spending, providing valuable momentum for the broader economy.

New Opportunities for Young Jobseekers

The strong jobs market is also opening doors for younger Australians. A survey by Jobs & Skills Australia found that most employers hiring workers aged 15–24 prioritise attitude over qualifications. 60% of businesses said they chose applicants based on their mindset and willingness to learn, rather than experience or credentials.

This shift gives young people greater access to entry-level opportunities and highlights the value of employability skills such as communication and teamwork. It also shows that employers are more flexible and growth-oriented than in past years – a sign of confidence in the economy’s long-term strength.

Looking Ahead

Australia’s labour market continues to defy expectations. Employment is at record highs, wage growth is healthy, and businesses are showing renewed confidence in hiring. While productivity and skills shortages remain areas to watch, the overall picture is one of stability and progress.

For households, this period of growth brings new opportunities to plan ahead financially, build security, and make the most of improved earning potential.
If your income has grown or your employment situation has changed, it could be the perfect time to reassess your home loan or investment plans. Peel Finance Brokers can help you take advantage of today’s stable conditions, whether that means refinancing for a better rate, upgrading your home, or securing a loan for your next big step. Get in touch today to make confident financial moves while Australia’s economy is on the rise.