Australian employment outlook remains positive
Despite the worries about the pace of the job growth in Australia, the local employers have increased their hiring and it is expected that there will be job places for 22% more employees during the second quarter of this year. According to the survey only 11% of the employers in Australia say that they will decrease they hiring, while around 65% expect no significant change. Hiring prospects have strengthened by 4% when compared with the previous quarter and are 3% stronger year on year. Once the data is adjusted to allow for seasonal variation, the outlook stands at +10%. The strongest labour markets will be in the provinces of Northern Territory and Australia Capital Territory (ACT). In addition to that the home province of the mining industry also expected to do very well in terms of hiring new workers. Outlooks of +11% are reported in both Queensland and Victoria, while South Australia employers report an outlook of +8%. Based on that that is unadjusted data the forecast for employment will gain in all of the eigh regions of the country.
As far as specific sectors are concerned, employers in six of the seven sectors that were surveyed expect to increase their hiring during the second quarters of 2014. The highest expectations are in Finance, Real Estate and Insurance. The employment outlook there is reported to be +17%. Year on year, employers report stronger hiring prospects in six of the seven industry sectors. Outlooks increase by 8% and 7% in the Transportation and Utilities sector and the Wholesale Trade and Retail Trade sector, respectively, while Mining and Construction sector employers report a 5% improvement. The Manufacturing sector employers report an outlook decline of 4%.
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