Job recovery slow but steady



The job market is showing slow but impressive recovery, says the Manpower Employment Outlook Survey conducted over the third quarter of 2010.

Though Australian job prospects rank among the strongest in the world, after India, Brazil, Taiwan, China and Peru, employers will still hold back, according to the survey. On the positive side, hiring will show steady improvement over the next three months regaining the job market.

Of the 2,200 Australian employers surveyed in the third quarter of 2010, 27 per cent indicated they planned to increase hiring as compared to 30 per cent in second quarter. The number of employers planning to reduce headcount remained steady at 6 per cent.

Confirming that job market across all industries has returned to pre-downturn levels, Mr Lincoln Crawley, Managing Director, Manpower Australia & New Zealand, said it’s 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.”

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.

He says: “This is due in large part to the natural resources boom. It is now essential to ensure skills shortages in the mining and resources sector don’t hinder the country’s renewed growth”.

CareerOne.com.au, June 8, 2010.