Unemployment rate has peaked
Publish Date: Monday February 22, 2010
Most white-collar employers think the rate of unemployment peaked at 5.8% in 2009, according to the latest Michael Page Employment Index.
Of those companies surveyed for the February index, 70% said the worst labour market conditions had already passed. This encouraging result follows consecutive falls in the unemployment rate and the creation of more than 52,000 new jobs in January.
Hiring intentions improved for the month of February, with 31% of employers saying they were taking on more staff. This represents an 8% improvement on the January figures.
Only 4% of companies reported cutting employee numbers in February, well down from the 17% of employers that were reducing headcount as recently as November 2009.
A strong preference for permanent workers is also evident in the February index: 87% of employers hiring new staff are doing so on a full-time basis. The majority are recruiting for mid-level positions in operational areas of the business.
Respondents predict the banking and financial services sector will experience strongest jobs growth in the first half of 2010, followed by mining and resources sector.
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Media Contacts
Jason Hemens Marcus Sandmann
Corporate Communications Manager, Head of Marketing,
Asia Pacific Asia Pacific
t: 02 8292 2094 t: 02 8292 2112
e:jasonhemens@michaelpage.com.au e:marcussandmann@michaelpage.com.au
