Hiring Confidence In The Wholesale & Retail Sectors Declines To Lowest Levels Since Late 2006

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4th June 2008, 03:02am - Views: 878

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Manpower Employment Outlook Survey

Under embargo until 0:01, 10th June 2008 Local Time 

Hiring confidence in the Wholesale & Retail sectors

declines to lowest levels since late 2006.

The Manpower Employment Outlook Survey released today, indicates the employment

prospects for job seekers in the Wholesale and Retail sector may well be softer than

they have been for the past two years as business leaders intend to hire less new staff. 

The survey, which was part of a broader survey of 2,658 employers across Australia,

revealed that the majority of employers in this sector are intending to hold the line on

their staff levels for the next quarter. The levels of demand are considerably lower than

the past 24 months, and in fact have dropped back to the same lower levels reported at

the end of 2006.

The Wholesale & Retail sector’s employment market shows a considerably softening in

hiring intention in the July – September quarter of 2008, with a Net Employment Outlook

of +15% compared to +22% in the last quarter, a decline of 7 percentage points. This is

also 10 points below the peak of April-June 2007, which saw a Net Employment Outlook

of +25% for the sector.

According to Stephen Hinch, General Manager Marketing & Communications,

Manpower, Australia and New Zealand, “This considerable softening in intention to hire

new staff may not be a signal for a slow down in net growth. The continuing softening in

hiring intentions may well be indicating a decline in pent up demand that was created by

internal mobility together with supply shortages”.

“This softer demand may also be an early indicator of the disaggregation of the labour

markets as some industries continue to grow from strength to strength while others such

as Finance as well as Wholesale & Retail begin to tighten and perhaps shrink as

consumer confidence tightens. Business leaders must continue to rethink their strategies

not only to attract but more importantly to retain the right talent, as staff that you lose

today may well need replacing tomorrow.” Hinch said. 

“There has been a general even spread of growth across all industries over the past few

years only constrained by labour supply, but as the economy tends to shift we may well

see a disaggregation where some industries such as Wholesale & Retail contract while

other industries continue to grow. The net result of this disaggregation could see as

many as 150,000 people losing their jobs over the next 12 to 18 months, but only a slight

up swing in unemployment as those with transferable skills can move to the growth

sectors”. Hinch noted. 


For further information please contact

Stephen Hinch, Phone – 02 9263 8644, Mobile – 0488 495 270, shinch@manpower.com.au

The next Manpower Employment Outlook Survey will be released on the 9th of September 2008.

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