Australian Employers Feeling Better About Economy - Starting to Hire
Tuesday, March 9th, 2010
With demand for commodities increasing, Australian employers are gaining confidence in their economy and have started spending again on advertising for jobs.
Job advertising spend for February increased by 19.1 percent, while the benchmark index of Australia grew 0.3 percent, as search for workers increases in the country.
Still, there is some caution by Australian companies, as the 19.1 percent increase in job advertising was 2.3 percent below the same month last year.
According to Australia New Zealand Group Chief Economist Warren Hogan, “In the near term, the forward indicators appear positive for more employment growth through the first half of 2010, although probably at a slower pace than seen in the past four months.”
Consequently, business confidence boomed in February, as it increased by 4 points for the month, said the National Australia Bank. Major sectors business increased in besides the obvious mining, were transport, wholesaling and retailing. The only state in Australia not growing in business confidence was Victoria.
While the focus on increased spending to attract employees is notable, it does have to be tempered with the possibility there is a targeting of very specific types of employees with certain skill sets.
That could mean there is a belief there is a real sustainable economic turnaround happening, but there will be a real need to hire certain types of employees in anticipation of that.
Either way and for whatever reason, business confidence and spending to attract employees of any kind is good news in any economy, and Australians in general should be the recipients of the benefits of that reality.
Article by Gary B
The views expressed are the subjective opinion of the article's author and not of FinancialAdvisory.com
Tags: australia , australia economy , business confidence , hiring
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