News articles report that the employment situation in Australia is improving. Government data show that during the June-August quarter, jobs in the country increased by 119,800, the highest in nearly ten years. The good news is that even employers and recruitment agencies have felt this improvement.
CPE Group confirms what government data indicate: more people have landed jobs in the past couple of months. Nevertheless, many still wonder why the job market suddenly took an upturn. So far, the facts point to three factors:
Better Business Confidence
The economy is in good shape, which means that investors have better business confidence in the country. Although the recruitment market has been on a negative note in the past three years, 2014 changed all that. Better business confidence has also triggered another effect: employment movement in the market. Employees are now exploring more than hold jobs to ensure that their position aligns with their career.
Some companies have conducted massive re-shuffles in their boards of trustees and executive departments. Big brands like Ferrari have shifted positions inside their departments. Moreover, just recently, QBE has done the same. These management changes prompted the sudden surge of activity in the employment market, which has certainly helped the pool of job seekers in the country today.
More businesses continue to establish their roots on Australian soil, which means the competition continues to toughen. Although some businesses might find this challenging, the employment market finds this beneficial. Apart from new businesses, there has also been an increase in the number of executives leaving the country for fly-in, fly-out roles in Asia and other regions. Both these things have generated a positive impact on the job market as a whole.
If these trends continue until the end of the year, it would be a breath of fresh air in the Australian job market. Hopefully, things all turn for the better. Who knows, this may truly be the resurgence of the struggling employment market.