Around 3.6 million people are employed in Victoria, increasing by 754,800 over the past decade. While metropolitan Melbourne accounts for around three-quarters of employment in Victoria, the regional share of employment has increased slightly over the same period.1
The proportion of people employed or actively looking for employment – the labour force participation rate – is near record highs. The unemployment rate is very low.
Over the decade, the participation rate increased by 2.8 percentage points (from 64.8% to 67.6%), while the unemployment rate declined by 1.9 percentage points (from 5.6% to 3.7%) (Figure 1.1).2
Figure 1.1: Participation and unemployment rates Victoria (May 2013 to May 2023)
Strong employment growth since the COVID-19 pandemic has seen a significant shift towards full-time employment and permanent work.3
Currently, 69.0% of Victorian workers are engaged in full-time work, an increase of 2.0 percentage points since June 2019 (Figure 1.2).4 The proportion of employed individuals with paid leave entitlements has also increased since 2019, rising from 77.0% to 78.8%, indicating some growth in permanent employment.5
Figure 1.2: Full-time and part-time employment Victoria (February 2018 to May 2023)
Notes
1 Australian Bureau of Statistics, Labour Force, Australia, Detailed, May 2023.
2 Australian Bureau of Statistics Labour Force, Australia, May 2023.
3 Full-time employment and permanent employment are not necessarily the same, as there are people that are employed full-time on a casual basis.
4 Australian Bureau of Statistics Labour Force, Australia, May 2023.
5 Australian Bureau of Statistics, Working arrangements, August 2022.
Updated