Australia’s Economy Supported By Strong Employment Trends
As the world economy seems to be caught in a wide range of tumultuous events, certain regions have managed to show stable growth trends in key areas of its workforce.
In August 2019, Australia’s employment figures increased by 34,700 (to reach 12.93 million), which was a strong improvement on the increase of 36,400 during the previous month. These results actually beat analyst estimates for jobs growth, which were a full 10,000 jobs lower (based on expectations that global trade tensions might limit jobs growth).
Full-time figures continued to show stability, while part-time employment additions were particularly strong (with massive gains of 50,200 for the month). Overall, these jobs numbers are well above the historical averages, as the typical monthly employment change in Australia was just 13,900 from 1978 until last year. This trend shows that recent improvements have been particularly well received by Australia’s employment workforce.
According to Roland Coombes, job consultancy expert at iTouch Resume Solutions:
“Australia’s labor market has shown incredible resilience in the face of growing economic uncertainty around the world. While many economic analysts were actually expecting jobs declines over the last few months, the Australian economy has easily managed to beat those deteriorating expectations and exhibit sustained consistency in growth. Overall, this is an exciting time for Australia’s current job seekers.“
Interestingly, there are several economic data reports which support the positive outlook for Australian job seekers. As a result, it cannot easily be argued that improved jobs gains over the last few months are something of an anomaly. Specifically, the country’s unemployment rate has held steady (near the 5% level) and the number of job vacancies has steadily risen since the beginning of January 2017. Of course, these are long-term trends and it is unlikely the market will see any changes that are significantly negative before the end of this year.
For job seekers, this is highly encouraging news. Essentially, the strong labor market suggests that job seekers have an excellent chance to get the jobs they truly want. Ultimately, it just comes down to the proper presentation and having an excellent resume to show to potential employers. As long as the jobs vacancy figures continue to rise, there is little reason for Australian job seekers to be discouraged in their efforts.
Of course, there are still risk factors that could become apparent in the event that there is a slowdown in the global economy. However, all of this suggests that the current environment marks a great time to take advantage of the country’s stable economic trends and to apply for jobs that might have seemed elusive in the past. Recent jobs vacancy figures show that Australia’s employers are actively looking to hire for many positions. However, it would appear that these employers are having a hard time filling these positions because not enough people are applying for consideration.
Given the recent trends in Australia’s jobs market, it seems that there hasn’t been a better time in recent memory to update your resume and begin looking for a new career. It’s hard to argue with the fact that now is a great time to advance your jobs prospects now that Australia has shown its ability to overcome negative expectations for the world economy. All it takes is the proper presentation and a well-polished resume. Once these key requirements are secured, it seems that the sky’s the limit for job seekers looking to get started on a new career path for the future.
