The average unemployment rate in Newcastle and Lake Macquarie has hit its lowest point since the data was first collected in 1999.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Australian Bureau of Statistics regional labour force data shows the region's average unemployment rate over the past 12 months dropped to three per cent.
The rate for females also fell to a record low of 2.6 per cent.
Business Hunter CEO Bob Hawes said the region's employment market had remained strong, which continued to buck the national trend.
"At the surface, the regional labour force market continues to defy gravity, remaining strong despite some sectors of business experiencing a slow down as consumer and business-to-business demand softens," he said.
"Clearly, if people are losing their jobs, they are finding new work again pretty quickly."
The May monthly unemployment rate for Lake Macquarie and Newcastle dropped to 2.8 per cent from 2.9 per cent in April.
The rate eased in the Hunter Valley, rising to 2.5 per cent from 1.7 per cent in April.
These figures represent a regional pool of 10,800 people looking for work.
The monthly rate across the entire Hunter region rose to 2.7 per cent, up from 2.4 per cent in April, but below the national figure of 3.6 per cent and the NSW rate of three per cent.
Mr Hawes said the data also revealed the majority of growth across the month occurred in full-time roles.
"This indicates to us that businesses are seeking to retain staff, and the region's workforce is perhaps looking for more hours and stability as cost-of-living pressures begin to bite," Mr Hawes said.
"We certainly don't appear to be suffering from underemployment typical in other parts of the nation at present."
Internet job vacancy numbers in the Hunter recorded by Jobs and Skills Australia increased by about 200 from April to 6,900 in May.
"Whilst the Hunter region's businesses seeking to employ people keep pumping the job ads, with a 6.8 per cent increase over the last 12 months, we're seeing the opposite at the state and national level," Mr Hawes said.
"Over the same period, there were monthly and annual declines in ads of 2.9 per cent and 4.2 per cent respectively at the national level, and 2.6 per cent and 9.6 per cent respectively for NSW."
Mr Hawes said the monthly figures showed there was still volatility in the employment market, but there was a continuing trend of strong demand.
"This is expressed by businesses advertising to attract workers, but having access to a very small pool of people with the potential to fill those roles," he said.
"It is a frustrating time for business as we are also constrained from freely attracting more labour into the region owing to the well-publicised shortages of housing to rent or buy."
Mr Hawes said the youth unemployment picture was also positive, with the monthly average for the region at 7.9 per cent.
"Youth unemployment in the Hunter Valley increased slightly to 8.4 per cent, and this could be due to seasonal factors as we came off the Easter break and school holidays in April where typically there is an increase in demand in casual roles for youth," Mr Hawes said.
IN THE NEWS:
WHAT DO YOU THINK? Join the discussion in the comment section below.
Find out how to register or become a subscriber here.
