Australian Employment Market Update

Released 09.08.19

 

Weekly change in total number of jobs advertised on major job boards

In July, a late increase in the number of job adverts will hopefully translate to a drop in unemployment in August.
This wont be seen by the ABS until mid-September.
We expect a rise in unemployment in July, albeit at a slowing rate since the start of the year.
The effects of the election stalling hiring confidence has now wanned.
The effects of the China – US trade war are yet to be seen affecting employment confidence in Australia.

The manufacturing and trades industry seem to be showing good signs. Finding employees that are keen to work in them is the main struggle.
Civil works projects are continuing throughout the eastern states with still good money being on offer.
Commercial construction projects have stalled largely in Victoria and Sydney.
Healthcare and IT are still great employment options.

Overall, we expect a more competitive employment market over the next six months.
By this we mean it is going to be harder to get a job and a pay rise.
We expect that unemployment will increase to around 5.5% and weak wage growth.
Companies that will do well are those in the public sector connected to exporting.
We also anticipate a solid performance from the business sector, with private investment likely to rise in aggregate on the back of growth in the non-mining sector, while mining should at least stabilise.

Australian recruitment software provider, Perform Zone, monitors the number of new job adverts placed on Australia’s top 3 job boards.

Last 30 days of adverts posted on major job boards around Australia