Home' Employment Forecast : MyCareer Employment Forecast April 2011 Contents The MyCareer Employment Forecast has provided an accurate picture of the current and future Australian
employment market since 2003. The biannual report covers the Australian, mainland states, professional and
managerial markets as well as key industries.
The April 2011 report fnds that the Australian economy continues to grow at a solid pace and that the
Australian job market has progressed on its remarkable journey of jobs growth, with 316,000 new positions
added over the year. This is very close to the record number of jobs created in 1995 when 318,000 jobs were
added and shows the strength of the labour market.
In 2010, the more normal pattern of full time/part time employment jobs growth has been restored. Full time
jobs are growing healthily, almost to levels last seen in 2007. In fact, during the last year just over 257,000
full time jobs were added. This is despite fears of a double dip recession in the US, bank wobbles in Europe and
a sluggish Japanese economy.
A number of indicators are pointing to the strength of the labour market. Total hours worked are increasing
and the unemployment rate is now down to 5.0%, which is getting close to what is considered full
employment. Job vacancies are at near record levels, well up from the Global Financial Crisis days, and even
higher than the 2006/07 boom years. Business intentions to employ are also still positive.
Not surprisingly, with such a strong labour market, wage pressures are mounting and already wages
are increasing at 1.2% above the rate of infation. With a low unemployment rate and a solid economic
performance, wage pressures are expected to grow.
A remarkable fnding is the extent to which the growth in jobs has spread across all segments of the
population. Even Generation Y, which bore the brunt of the job losses in 2008, is now experiencing jobs
Skills shortages are emerging again in managerial and professional positions, especially in the Health and
Engineering Sectors as well as in areas such as child care workers, nurses and truck drivers. The recent
reduction in Australia’s migrant intake is likely to lead to further skills shortages unless training can be ramped
With employment intentions remaining positive, the jobs outlook is gathering strength, the annual rate of
jobs growth expected to reach 3.0% by February 2012. In this environment, fnding suitably skilled labour will
increasingly emerge as a challenge.
With the economy continuing to expand, jobs for professionals and managers are also forecast to continue to
grow. Finding suitably qualifed skilled people for roles will continue to be diffcult.
MyCareer Employment Forecast
Links Archive MyCareer Employment Forecast 2010 October Edition Navigation Previous Page Next Page