Employment growth experienced a pause in April as businesses grappled with persistent economic challenges and increasing operational costs, according to the latest jobs report from workplace platform Employment Hero.
The report indicated a slight decline in employment growth, registering at -0.1 percent from the previous month. This marks the end of a three-month streak of workforce expansion.
“The sustained strength in casual employment underscores employers’ ongoing need for talent, although they prefer the flexibility to adjust workforce sizes in response to fluctuating demand,” the report stated.
Despite the stagnation observed in April, the report highlights a robust annual employment growth rate of 8.4 percent compared to the previous year.
In terms of wages, the research revealed a significant boost, with the strongest monthly increase seen in over six months, rising by 1.6 percent. Currently, the median hourly wage nationally stands at $46.30.
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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