The latest Olivier survey has been released and it shows positive news in the run up to Xmas. Here is the verbatim report from their website:
“The Olivier Job Index rose 5.88% in November, and 7.84% in the past 3 months. The index has risen in three out of the last four months. This reverses last month’s fall of 1.67%, confirming the resilience of the bounce back in Australian job ads. November’s increase is the strongest since December 2007, before the GFC.
Ads for full time jobs were up 5.9% compared to part time at 4.6%. That’s most encouraging. Our experience at the coal face is that if employers can hire full timers they will. This is a great vote of confidence in the economy.
The increases, despite two rate rises and the (now substantiated) prospect of a third, confirms business confidence is strong. The November OJI is more evidence in support of the RBA’s tight rein on the Australian economy.
Close analysis suggests that the fall in October was a hiccup. Numbers slipped in the first week and stayed down. November’s data looks like a continuation of September’s growth.
When you look closely at the figures it seems the job market now is closer to that in ‘06 and ‘07 than ‘08. This was typical of a strong market with ads staying high until the end of November. Clients who want new starters in January will continue to recruit right up to the Christmas break.
There is no doubt that there will be a deluge of talent on the market in mid to late January. The smart job seeker and employer will secure a deal prior to Christmas and beat the rush.”
Let us hope New Zealand follows on (no, not cricket……)
More at their website or the full report is here
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