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Financial services exhibits jobs caution
The Australian employment market appears to have turned a corner, but there is still caution being exhibited in the finance, insurance and real estate sectors, according to the latest data released by Manpower Employment.
The Manpower survey of more than 2,000 employers is aimed at determining hiring intentions over the next three months, and shows a dramatic improvement, with the net employment outlook standing at plus 19 per cent, up from plus 8 per cent in the previous quarter.
In Australia, the survey suggested the strongest growth in jobs would be in the services sector, with the weakest hiring intentions being in the financial services, insurance and real estate sectors.
Manpower said in almost every sector, the outlook had improved quarter-over-quarter and year-over-year, with the exception being financial services, insurance and real estate, which was still 3 percentage points weaker than the forecast posted at the same time last year.
Commenting on the survey outcome, Manpower Australia and New Zealand managing director Lincoln Crawley said employers needed to be aware of the situation that would emerge as the economy improved.
“While the downturn masked the pain of the talent shortage, it never actually went away and it's definitely going to return,” he said.
AUTHOR
Mike Taylor
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