Job losses in the skilled labour market are slowing, thanks to the effect of the Federal Government’s stimulus package, a new survey shows.
The Clarius Skills Index declined 0.6 percent in the September 09 quarter to 98.2 points, down from 98.8 points in the June quarter.
The index measures labour demand against supply. Index readings under 100 points indicate capacity in the market, while readings over 100 points indicates tight labour market conditions.
On a quarterly basis, the index is now at its lowest level since 2001 when it dropped to 97.6 points.
According to Clarius Group executive manager Kym Quick, this was in part, due to fiscal stimulus measures.
“The government has always claimed the stimulus packages were specifically targeted. And this quarter’s Clarius Skills Index provides a good indication of where it is starting to have some impact.”
However she added that businesses are still cautious, as the indications of a stimulus-led recovery across the board appear to be limited to a handful of occupational categories.
“The building and construction industries are not yet seeing a lengthening pipeline of projects becoming available. But there are certainly pockets of activity. In sectors like health, there is increasing demand,” she said.