The RBA revealed new ABS data on employment trends yesterday.
There is no real surprise that the Australian economy is dominated by the services sector (refer chart below). Over a period of one year, sectors like professional service and health care added 60,000 full-time jobs. In contrast, the manufacturing sector shed more than 20,000 jobs in the same period.
Meanwhile, the Australian Industry Group released its latest PMI (Performance of Manufacturing Index) results, which recorded a slight increase in overall employment numbers. However, long-term prospects are not rosy.
Future recruitment activity and difficulty are most likely to occur in the services sectors, and therefore a likely increase in demand for the services of third party recruiters and vendors.