Staggering job growth of 398,400 new jobs in 2017 has broken annual records with the best figure since records begun in 1978, reports St George Economics.

300,500 of the jobs were full-time, and the remaining 97,900 was part-time.

November saw a 61,600 gain, with December figures ending the year with an additional 37,800 jobs. With regards to the states, job growth in December was as follows; NSW (14,300), WA (6,100), SA (1,300), TAS (600). 

While St George have doubts the current average rate of 30,000+ jobs per month can be maintained, they report the growth will be enough to gradually reduce the unemployment rate in time.

The unemployment rate slightly increased from 5.4% in November, to 5.5% in December 2017, with workplace participating increasing from 65.5% in November, to 65.7% in December. The report indicates the thriving conditions are encouraging potential workers to seek employment. 

Hannah Schuhmann says these figures are encouraging and show strength in employment, in particular the strong rise in full-time jobs. Queensland will now, over the next 5 years ride a wave of an EXTRA 50,000 jobs being added by some of the new projects being completed.