Home' Employment Forecast : MyCareer Employment Forecast 2010 October Edition Contents Total Jobs
Change in Jobs
Change in Jobs Quarterly
The New South Wales economy is emerging from the doldrums of the GFC-induced slowdown and the long term overhang from
the boom conditions of the 1990s. Economic growth really picked up in the last quarter, with the economy growing at 5.4% in
June, consolidating the March 2010 growth of 5.2%.
This economic growth is translating into the job market. The NSW job market improved signifcantly in 2010 as the economy
gathered pace. Full time jobs are being added, with full time jobs increasing for fve consecutive months after declining
throughout 2009. Part time jobs also continue to grow but at a slower rate, with employers taking on more full time employees
as they become increasingly confdent about the economy.
In a further sign of the better economic times, unemployment in NSW has fallen to 5.2% compared to a peak of 6.4% in March
2009. Once again, this low level indicates there is already limited spare capacity for labour force growth. At the same time, job
vacancies in the state, while not at their pre-GFC peaks, are only just behind levels seen in 2007.
Employment intentions have continued to grow in NSW, with intentions up 8.6 in the June 2010 quarter, a remarkable
improvement from the trough of -24 in the March 2009 quarter. The stronger economic growth, backed by better employment
intentions, means that the EMDA model is showing robust jobs growth for NSW with jobs up 2.5% by August 2011.
With employment forecast to grow in the state, there are likely to be more reports of skills shortages.
MyCareer Employment Forecast
New South Wales is consolidating the recovery in the job market
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