Casual work booms, full-time jobs fall as economy squeezed
Australian businesses are becoming more cautious about hiring staff, preferring to use casual workers, new research has revealed.
Workplace platform Employment Hero's latest jobs report showed employment growth stalled in April, as employers navigate ongoing economic pressure and rising operating costs.
The report also found employment growth dipped slightly to -0.1 per cent month-on-month in April, ending a three-month run of workforce expansion.
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Data shows employment growth stalled in April as employers navigate ongoing economic pressure and rising operating costs. Louie Douvis
At the same time, casual work continued to surge, growing 11 per cent year-on-year.
That's more than double the growth rate of full-time employment and significantly ahead of part-time employment.
The report is based on aggregated payroll data from more than 23,000 businesses and 1.7 million employees.
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Casual work is surging, according to the latest Employment Hero data. Getty
Employment Hero Asia-Pacific managing director James Keene said the data pointed to a labour market that overall remained resilient overall, but businesses were becoming far more measured in their approach to hiring.
"Businesses are still hiring, but the pace of growth has clearly slowed as employers become more cautious about expanding their workforce," Keene said.
"After several years of rapid hiring and intense competition for workers, many businesses are now focused on protecting margins, managing costs carefully and building more flexibility into their workforce models.
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The data pointed to employers being more cautious about expanding their workforce. Louie Douvis
"The continued strength in casual employment highlights that employers still need access to talent, but they increasingly want the ability to scale workforces up or down depending on demand."
Despite the monthly stagnation, annual employment growth remains strong at 8.4 per cent year on year, the company said.
Meanwhile, wages posted their strongest monthly increase in more than six months, rising 1.6 per cent month on month, the research found.
Median hourly wages now stand at $46.30 nationally.
Keene said businesses are balancing the need to attract and retain workers with mounting pressure on profitability.
"Wages are continuing to rise, which is positive news for workers, but it also adds to the cost pressures many businesses are already carrying."
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