Australia – A Magnet for Job Seekers

Australia’s jobs outlook is looking bright, with hiring optimism reaching levels seen before the global downturn, according to the latest Manpower Employment Outlook Survey.

The survey of over 2,200 Australian employers indicates hiring intentions will continue to improve for the next three months. The seasonally adjusted Net Employment Outlook is at +24%, a 2 percentage point improvement from the last quarter.

The survey results reveal Australian job prospects are among the strongest in the world, behind India, Brazil, Taiwan, China and Peru. Australia’s salaries are, on average, considerably higher than in any of these countries.

“The recovery has definitely hit the jobs market, with the employment outlook at its strongest point in two years. This is good news for job seekers, and the Australian economy,” said Mr. Lincoln Crawley, Managing Director, Manpower Australia & New Zealand.

According to Mr. Crawley, the job market across all industries has returned to pre-downturn levels, but is growing at a manageable pace.

“Movements in employment levels are becoming less volatile as the market returns to normal hiring patterns. The recovery pace is looking steady, but job seekers and employers alike need to be patient. It’s not going to be a quick return to boom times, and in any case, we wouldn’t want things to ramp up too quickly – no one wants to see a wages breakout that could push up inflation and interest rates,” said Mr Crawley.

Across industry sectors, the Transport & Utilities sector is set for significant growth, at +33% compared to +14% last quarter. Both the Mining & Construction sector (+31%, up from +27% last quarter) and Finance, Insurance & Real Estate sectors (+28%, up from +23% in Q2) have also seen notable growth in employer hiring optimism.

According to Mr Crawley the Australian economy has fared well in the global financial crisis, and now appears to be one of the most secure in recovery, compared to other regions of the world, due in large part to the natural resources boom.

“The strength of the labour market is always going to be varied across the country, with Western Australia employers currently buoyed by mining and construction activities in the area. However, we are noticing some evidence of a two-speed economy, with some states returning to pre-crisis levels faster than others,” he said.

“It is now essential to ensure skills shortages in the mining and resources sector don’t hinder the country’s renewed growth,” he said.