Prospects are looking good for brokers seeking employment in 2013. The latest Manpower Employment Outlook Survey results show hiring sentiment for the start of next year will remain cautious across most industries –except finance, real estate and insurance.
The survey, which measures over 2,200 Australian employers’ hiring intentions for the coming quarter, found that 13% plan to decrease hiring for the first quarter in 2013, 20% plan to increase and two-thirds (66%) will make no change.
The finance, insurance and real estate jobs market are some of the best to be in in terms of new employement, having risen 8% to an outlook of +19%.
Manpower Group Australia and New Zealand managing director, Lincoln Crawley, says the reported outlook of +8% for two consecutive quarters indicates the slowdown in employer sentiment could be here to stay for many other employment sectors.
“What we had hoped was a short-term dip in the jobs market may in fact be the ‘new norm’. With the exception of Victoria and Tasmania, the outlook in each state and territory has fallen. However, we are seeing pockets of demand and jobs growth, where ‘micro-sectors’ in certain industries are strong while the rest of the market is subdued. We expect this ‘multi-speed’ labour market to continue.”
Crawley says that, while an uptick in finance sector jobs is somewhat surprising, it shows employers are responding quickly to market changes.
“For example, risk and compliance roles are growing as the industry struggles with changes to legislation around super and financial advice. Similarly, financial sales roles are in up, as organisations invest in new products to diversify in a tough market.”
Among the states, Victoria is the surprise performer where employers reported a 4% increase from last quarter. The outlook stands at 11%, showing signs of a tentative recovery with results picking up gradually over the last three quarters.
Employers in New South Wales, Queensland and South Australian reported similar weak outlooks of +6%, +5% and +5%, respectively. The outlooks in those same sectors each dropped 2% quarter-on-quarter and represented the least optimistic job prospects since the global financial crisis began.
Crawley says job seekers should focus on the bright spots in the market.
“Job seekers should take heart from the fact that there are still industries hiring and pockets of demand and set their sight on those areas.”