Job ads are approaching new lows as employers pull back on hiring…for the time being, at least.
Many Australian employers see their workforce remaining steady in the short term, not expecting to hire until at least next year, Michael Page’s Australia Employment Index Report 2013 has found.
Half of employers surveyed stated they wish to keep their staff numbers stable for the rest of the year, with 46% expecting to hire in 12-18 months, and 40% in 18 months or more.
“While Australia has been reasonably shielded from the impact of the US and Eurozone economies and there is a sense of hopefulness in the domestic market, employers in Australia are taking a somewhat vigilant approach to hiring,” Phillip Guest, regional managing director for PageGroup Australia, New Zealand and Japan, said.
The reluctance to hire is reflected in the drop in job advertisements almost doubling from the 1.1% drop month-on-month in July to 2.0% month-on-month in August. This places job ads just 5% up the depths of the GFC, a study from ANZ Research has found.
The results also demonstrate that South Australia and Tasmania are both experiencing stabilisation in the amount of job ads. Western Australia, ACT and Queensland are experiencing the largest drops.
With the recent election, however, these forecasts may change. A vast majority (88%) of respondents stated that a decrease in the carbon tax would have a positive impact on their organisation. With the Abbott Government’s plan to scrap the carbon tax, this may see hiring intentions increase.
What are your organisation’s current hiring intentions? Do they sit in line with the research conducted by Michael Page?
