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Debtor Finance, Debtor Finance Blog

Mixed picture for Australian labour markets

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Employment landscape is mixed across the country Employment landscape is mixed across the country

It's no secret the Australian economy has faced some difficult times over recent years, and the latest predictions suggest they might not be over just yet.

The Clarius Skills Indicator for May points to a mixed employment landscape, mainly because the mining sector is starting to slip and other sectors are failing to take its place.

Manufacturing, retail and tourism all need to step up to the plate if the economy is to have any chance of success - and small business owners could be behind this resurgence.

Nevertheless, Clarius explained that regardless of the troubles the labour market is currently facing, the difficulties are not as bad as those experienced during the early-1990s recession.

Not only this, the downturn experienced in Australia was relatively mild in the current global financial crisis compared to some other nations - and by domestic historical standards.

Business finance may be facing more difficulties than usual at the moment, as the Australian economy has driven a period of weak conditions, especially those in the manufacturing and services sectors.

This, coupled with the fact consumers are more cautious about how they spend their money, is making the situation even worse for some companies at the moment.

Businesses are starting to realise that the best way to weather the storm is to hold on to highly skilled workers and maximise them to their advantage.

Some industries are currently suffering from a surplus of workers - such as retail, hospitality and service managers - while others are unable to find the level of talent they need.

Engineering professionals are also in plentiful supply at the moment, Clarius found, while firms in search of qualified ICT managers may find there aren't many options available.

Levelling the employment playing field could therefore be just what is needed to get the Australian economy back on its feet again.