Overall Australian Job Volume Strong Despite Drop in Employment

The unemployment rate in Australia is at a ten year high, but there’s still cause for optimism
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Following the publication of the latest Australian jobs report, Chris McDonald, Senior Director of Sales at Indeed, talked with the Wall Street Journal to explain what this means for job seekers.

With the unemployment rate rising to 6% — its highest level for more than a decade — fresh doubts were raised about the strength of the Australian economy. Despite the negative headlines, Chris cautioned against being too downbeat. “It’s early in the year and we’re optimistic,” he explains. “…despite more people being out of work, the overall job volumes in Australia are looking very strong.”

While the number of people out of work has increased over the past few months, Indeed data from January and February 2014 shows strong job posting growth in key sectors, particularly in retail and IT, which increased by 6% and 8% respectively. With more than 2 million job seekers visiting Indeed monthly, Indeed is uniquely placed to provide data, analysis and insight into the Australian job market — and this picture fits with Indeed’s global findings which suggest the greatest growth in the coming years for jobs in Australia will be in highly skilled sectors such as finance, IT and to an extent, service industries.

On the downside, telecommunications continues to be an area of decline, with opportunities at the larger telecommunications firms down 14% since November 2013. In manufacturing, while too early to determine any impact from the recent closure of several car manufacturing plants, growth in manufacturing roles has been more sluggish in 2014.

When reviewing the unemployment stats, Chris advised people to view the figures in the context of the global economy. While employment fell in December, the Australian job market remains in a strong position when compared to other international markets.

Watch the full interview to hear Chris McDonald’s analysis of the Australian jobs report.

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