Australia’s unemployment rate increased to six per cent in June.
Figures released yesterday by the Australian Bureau of Statistics (ABS) found that while the participation rate remained steady at 64.7 per cent, 728,500 Australians are currently out of work.
But rising business confidence is likely to fuel jobs growth over the next 12 months, according to the Michael Page Australia Salary & Employment Forecast.
Based on responses from 2,200 surveyed employers, close to a third expect to increase headcount in the teams during the next 12 months with the majority (59 per cent) hiring professionals at the mid-level.
A healthy hiring market is expected to fuel jobseeker activity; just over a half of employers expect staff turnover in the coming year with the two key reasons being to improve salary (26 per cent) or broaden experience and the opportunity to learn (25 per cent), the report found.
“There are several emerging drivers impacting the professional employment market over the coming year,” Michael Page Australia managing director Simon Meyer said.
“Business confidence is rising and companies are shifting their focus to growth rather than cost control, while the influx of Asian-owned organisations either buying Australian companies or financing new ventures in the domestic market is beginning to create hiring activity at the C-level,” Mr Meyer said.