A recent report (Daily FX) stated that the record trade surplus accompanied by the pick up in business sentiment may generate another “better-than-expected” employment result. This positive development may spark a bullish reaction in the $A as it boosts the outlook for growth and inflation.
Australia added another 13.5K jobs in December following 38.3K jobs expansion in the month prior. These rises were made up of 9.3K full time roles and 4.2K part time positions As December/January are our lowest employment months, we can expect continued growth as we move into the year ahead.
The jobless rate is still at 5.8% and when you consider that over 3% are unemployable, we are still up there on the World scale.
And where are these jobs? What sectors are expanding? Which ones are contracting?
A Senior Manager in the Recruitment Sector recently reported on the overall positive growth across all Sectors:
Child Care; Aged Care: Disability Care (these are obvious sectors)
Professionals such as : nurses, Accountants, Teachers, IT Providers & Software Programmers
Sales, Real Estate, Cashiers, Pharmacy workers
However the sectors expected to see job losses aside from mining, manufacturing and agribusiness include:
Down from 18% in 1990 – 14% in 2015 (of total workforce)
Clerical, General Accounts and book keeping, Credit Control, Data Entry/Management and Reception. Many of these roles have now been off-shored and the trend will continue. Only 1.3% anticipated growth in these sectors.
Most States expect continued growth with the exception of WA and NT.
NSW 7.8 – 9.8% anticipated growth over next 12 mths
VIC 6.4 – 8.8%
QLD 5.0 – 7.9%
SA 0.3 – 5.1%
ACT 0.7 – 7.2% (lots of new housing going in here !)
TAS 1.1 – 5.1%
WA 11% – 6.9%
NT 9.6 – 7.4%
We have noted that wages have been increasing in the USA, Germany and also in the Middle East. Although living costs continue to rise, we have had no real wage growth in about 8 years. Our more recent experience reflects a change happening now and I believe we will expect to pay more for good people moving forward.
The Employment landscape will continue to change as Australia and the world evolve in these “interesting” times. Greater connectivity and technological advancements, combined with demographic shifts, will drive the job opportunities of the future. Hang on for the ride!
Youth Internships – build your team and receive funding
Exciting news for those looking to employ young people and to develop and train their teams.
The Federal Government is introducing it’s “Pathway to Youth Employment” plan which started on January 1st this year.
Offering up to 120,000 internship placements over four years – payments will be made to both young people participating as well as employers who take them on. Internships offer $1,000 to businesses.
Wages Subsidies from $6,500 – $10,000 are also available for employers who hire a young job seeker who has been in employment services for six months or more.
For more detailed information, follow the link below.