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.
-End-
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.
NEWS 
