Jobs in Australia

Jobs outlook in Australia is at its highest for six years

by Ray Clancy on December 16, 2017

in Jobs in Australia

People considering a move to Australia in 2018 will be encouraged by the latest jobs outlook report which shows that hiring expectations have hit a six year high off the back of a strong labour market.

In particular the outlook across mining and construction, finance, insurance and real estate, and services sectors is good in the states of New South Wales, Queensland, South Australia and Western Australia.

(tashatuvango/Bigstock.com)

But the latest outlook report from the Manpower Group also shows that the wholesale and retail trade sector has failed to match the gains of other sectors while the state of Victoria has recorded a slight decline in expectations year on year.

Overall looking ahead to the first quarter of 2018, the national Net Employment Outlook (NEO) is +14%, signalling that more Australian employers expect to increase staffing levels than.

This strong national result has increased by 5% since the same time last year and when compared globally, Australia has recorded the strongest year on year gain in the Asia Pacific region and the third strongest gain across the 43 surveyed countries.

Employers in the mining and construction sector report the strongest outlook +23% as well as the strongest year on year gain of 16%. The Services sector has a NEO of +19%, up 8% year on year. The finance, insurance and real estate sector has a NEO of +15%, which is a 5% increase in comparison to the first quarter of 2017.

According to ManpowerGroup Australia and New Zealand managing director Richard Fischer the latest data signals the underlying strength of the Australian economy and shows that all sectors are benefiting from the robust outlook although there are clear variations across the country.

‘The employment outlook in Australia is now the strongest reported in more than six years and is showing no signs of slowing down as a rebound in the mining and construction sector adds to an already strong outlook in other key sectors such as finance,’ he said.

Of all states and territories, employers in New South Wales report the strongest NEO at +21%, up 9% quarter on quarter and 10% year on year. However, the greatest increases have been recorded in Queensland and Tasmania, both up 11% compared with the first quarter of 2017.

But not all parts of the Australian economy have recorded such robust outlooks or year on year gains. While the NEO for wholesale and retail trade recorded a small quarter on quarter increase of 2%, the sector outlook has remained unchanged when compared to the first quarter of 2017. The transportation and utilities sector remains relatively stable year on year, but recorded a decline of 5% quarter on quarter.

‘Conditions are most subdued in the wholesale and retail trade sector as well as transportation and utilities. However, all states and territories, sectors and organisation sizes have recorded a positive outlook. This positions Australia well for a strong start to 2018,’ added Fischer.

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