LATEST JOB FIGURES RELEASED
Written on the 11 October 2010
A BRISBANE recruitment expert predicts Queensland’s unemployment rate will push closer to parity with the national figure in the coming years, bolstered by a thriving resource and energy sector.
The Australian Bureau of Statistics (ABS) today revealed Queensland’s unemployment rate remained at 5.4 per cent in September while just 200 jobs were created, with the seasonally adjusted participation rate rising by 0.4 percentage points.
Recruiter Alex Correa believes Queensland’s unemployment figure will move closer to the national level of 5.1 per cent, with more people entering the workforce as well.
“If we continue on the path we are on I’d say yes we will get closer to the national level, as you only need to look at what’s going on with infrastructure projects, mining and resources, and small business to see the great scope for future job creation,” she says.
“What we’ve found with participation is that more people are returning to the workforce at the moment – they might have been out of it for a few years, maybe even setting up their own businesses, but post-gfc they are coming back.”
The trend participation rate fell by 0.1 percentage points but Correa expects that number to push upwards on the back of a booming economy.
“In the legal industry in particular there are troughs and highs when people are coming in and going out, but over time the trend adjusts itself,” she says.
The October-December Hays Quarterly Report, released yesterday, confirms the labour market is healthy, but very tight, with a growing list of skills now in short supply across Australia.
Director of Hays in Queensland Darren Buchanan, says activity in many sectors is now back to the levels we saw just prior to the global financial crisis hitting Australia.
“Employers are putting on permanent as well as temporary staff and those organisations that reduced headcount during the GFC are now growing their teams to take advantage of business conditions. Even at the support level employers are recruiting to fill skills gaps,” he says.
“But increased demand has quickly exposed the underlying shortage of specialist skills. The cloud above job security may have gone, but we’re bracing for a storm for skills.
In order to help overcome emerging skills shortages, Hays suggests employers take action.
“It’s safe to say that most employers we speak to are aware that the market is becoming candidate short again,” says Buchanan .
“Subsequently there has been an increase in the number of candidates who receive multiple job offers and counter offers. Employers are also starting to shorten their recruitment timeframes in response to the growing competition for the top talent, and are becoming flexible in their set requirements. They’re also investing in their branding in order to ensure the best possible market perception.
“We also advise employers to differentiate their offering to appeal to potential candidates. Knowing what factors each jobseeker is likely to base their decision making on is critical to a successful hire. For example, we suggest organisations communicate clear progression opportunities.”
State treasurer Andrew Fraser highlights September job growth in Queensland for 14 consecutive months.
“What we must remember is that Queensland's trend unemployment rate remains at 5.4 per cent. Treasury's budget prediction for 2010-11 was 5.5 per cent, so that underscores the challenges ahead as the recovery from the global financial crisis builds,” he says.
• Accountancy & Finance: Business Analysts, Financial Accountants, Management Accountants, Commercial Analysts and Change and Project Managers are in high demand. Bookkeepers and Accounts Payable candidates are needed to cope with GFC backlogs. Accounting firms will continue to seek experienced Accountants across business services, tax and audit. Larger firms will be active in graduate recruitment.
• Logistics: A general increase in freight volumes has seen demand rise at the operator to mid-management level across transport, warehousing, supply chain and international trade sectors. Fleet Controllers, Warehouse Supervisors and Inventory Planners/Replenishment Coordinators are also needed.