Employment in Australia Weak till mid 2014 Clarius Skills Index
Abbott faces job market challenges into 2014 before economy improves. Surplus job seeker numbers of 134,000 will worsen before they get better with the Australian labour market not emerging from the doldrums until the second quarter of 2014, according to the latest Clarius Skills Indicator.
The Indicator reports that weak labour demand has pushed the unemployment rate above its average and it is expected to keep rising until the March quarter 2014 when it will reach around 6 per cent.
The Indicator for the September quarter shows that sales and marketing managers is the only occupation in shortage, with an under supply of 600 people, as business desperately traverses technology trends and tries to convert conversation to cash.
Sectors such as ICT and engineering have slumped to being in oversupply when only 12 months ago they were ‘mission critical’. In the September quarter, ICT ground to a halt with an oversupply of 1,600 professionals and 200 managers, compared to a shortage of more than 1,100 professionals for the same period last year.
The fallout from the end of the mining investment phase saw an oversupply of 3,200 engineering professionals, compared to a shortage of 3,000 in September 2012.
Kym Quick, CEO of the Clarius Group of recruitment companies, said business conditions were set to improve early 2014 but the positive roll on effect won’t hit the workforce until mid-2014.