It’s crucial local employers maintain perspective about the employment market, due to a continued decline in hiring intentions.
Data collected for the latest Manpower Employment Outlook Survey confirmed that hiring optimism has dropped significantly, with only 25 percent of Australian employers expecting to increase hiring.
According to ManpowerGroup Australia Managing Director Lincoln Crawley, the strength of China, and other Asian markets, and the slow growth of the United States and Europe markets are major factors influencing Australia’s growth expectations. He accredits these external factors to the second consecutive quarter of the hiring decline.
“Australian employers are stuck playing piggy in the middle.”
Despite the Australia’s Net Employment Outlook being at its lowest in two years, the Asia Pacific region, including Australia, still has a more positive hiring outlook than other countries.
This slightly more positive outlook is reason for both employers and job seekers to keep perspective.
“Though employment expectations have decreased for the next three months, we still don’t have enough skilled workers to fix our skill shortages – there may be plenty of people, but the majority simply don’t fit the job description,” Crawley said.
One approach in fixing the skills shortage is using Australia’s relative economic strength to attract skilled workers from Europe and the United States, counties facing an uncertain economic time.
Developing retraining facilities and keeping a realistic view of the skills available, are all steps to keep flexible which Crawley deems essential for companies to make it through tough times
“This isn’t just a blip on the radar. Australian employer optimism has taken a hit, and it’s going to take time to build confidence again.”