Posts Tagged ‘Unemployment Rate’

Recruitment Planning Starts With Local Data



If you are a recruiter, the best way to make sense of the national unemployment rate, which currently sits at 5.3%, is to ignore it. Well, not really. But the real meat of the unemployment story lies in regional data. Broken down by states, Tasmania and NSW lead the nation in unemployment numbers, while employers in states like NT and ACT are likely to struggle with recruiting the right staff (Refer chart. Source: ABS).

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Job Vacancies Increases; bodes Well for the Recruitment Industry



This year, like  2009, our industry will be greatly affected by something none of us have any real control over – the economy.  But 2010 looks promising. All the major indices are showing signs of progress.

According to the ANZ’s job series jobs advertised on print grew by 11.6% during December. Online job ads also grew by 5.6%.  Similarly, the DEEWR vacancy Index also showed signs of consistent recovery. The chart below traced the uptick in jobs advertised on print media across the nation. Print advertising has increased steadily since June 09. Curiously, growth in online job ads aren’t as impressive. Still, it is good to welcome the new year with strong signs of recovery.

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Downturn and the folly of generalisation



Of course, these are hard times. The RBA has slashed interest rate to 3.00% (50 year low) and is on the verge of officially declaring recession in Australia.

Employers confidence has taken a beating. Hudson’s latest report revealed only 18.6% of employers intend to hire new staff, while a corresponding 17.8% will decrease headcount, resulting in a net effect of 0.8%. A similar report by Manpower also found employment outlook to be grim with only 17% of employers intending to increase headcount while 16% forecast a decrease.

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Talent Tidbits



Not all doom and gloom
It’s misleading to talk in national terms, or blindly generalise the state of the job market (the media loves bad stories). Some states are still dealing with 3% and below unemployment rates. Some companies are struggling to find staff. Demand and supply of talent is a local issue, and in most cases national data does not always accurately represent the reality at the local level. By the way, national unemployment rate currently stands at 4.5%, hardly the nightmarish picture often painted by mainstream media.

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