The conditions of the job market are largely impacted by the market and economic conditions of the local, national and global economy.
During prosperous times, when there are more jobs available you will find it easier to find a job. During recession or economic downturns (whether global or limited to one industry or type of work), it takes longer for you to find suitable employment because there is greatly increased competition for each opening.
On 5th July 2016, the Reserve Bank advised that “The global economy is continuing to grow, at a lower than average pace.” and made the decision to leave the cash rate at 1.75%.
The Reserve Bank also stated:
“In Australia, recent data suggest overall growth is continuing, despite a very large decline in business investment.” “Other areas of domestic demand, as well as exports, have been expanding at a pace at or above trend.” “Labour market indicators have been more mixed of late, but are consistent with a modest pace of expansion in employment in the near term.”
In May 2016, The Conference Board’s Global Economic Outlook advised that conditions continue to have modest growth outlook. They also stated that the “…global economic growth remains modest at 2.4 percent in 2016 and at 2.7 percent in 2017.” “While growth rates between mature and emerging markets have rapidly converged, significant variation between regions remains.”
What does that mean for you, here in Australia? It means there is healthy, moderate, optimism that things are on the improve. The recent election debacle may have had minor impact, but the future is looking brighter in terms of job opportunities.
If you would like to drill down to your region, the Australian Government Department of Employment has a website looking at Employment Projections which you may find useful.
It is important that you are aware of the market and economic conditions as it will impact your job search and although you may not be able to have any control in this area, you will be stepping into the market with full awareness of the impact.
If you have any questions, or are interested in signing up for the full program, please contact me at Startafreshlife.