Australia Labour Market Insights: April – June, 2024

Jobs market weaker but still resilient.

Australia’s labour market shows continuing signs of weakness as the economy slows, with fewer job ads and higher unemployment.

Predictably, as the broader economy weakens, businesses have scaled back hiring activity, while some firms have begun to shed staff.

But it is far from a collapse in the labour market. Indeed, the latest Australian Bureau of Statistics jobs figures show a resilient employment market that continues to see firm growth in some sectors – and enough overall expansion to suggest that Australia may avoid dipping into recession.

But in some industry sectors, job vacancies are drying up rapidly – and there is more intense competition among candidates.

To access the report, simply fill in your details to download.

PERSOLKELLY Salary Guide

Low economic growth and excessive inflation have combined to produce a challenging situation for households and businesses across Australia.

The past year has been extremely difficult for many firms and consumers who have been hit by weak trading activity and a series of official interest  rate increases.

The cost-of-living crisis has impacted most areas of business, as sales have slowed, with many  struggling to stay afloat.

Yet, there are near-boom conditions in some areas of the economy as massive infrastructure projects  roll out.

The labour market has been remarkably resilient, with jobs still being created, the unemployment rate relatively low, and skills shortages in many occupations.

This has resulted in variable trading conditions across regions and industry sectors.

To help navigate this, the 2024-25 Salary Guide provides an authoritative overview of wages and salaries across key occupations and industries from our experts in the field. It comprises data, insights and information that will help inform the critical recruitment decisions that are vital for success.

In a rapidly changing economic environment, this information will be more important than ever.

We trust that the 2024-25 Salary Guide helps firms to better understand the conditions in their industry sectors and assists them to navigate the year ahead.

Budget Summary 2024-25: Big-ticket spending designed to remake Australia

The Federal Budget has delivered a raft of workforce and training initiatives that are designed to drive Australia’s capacity to undertake some transformative national projects.

These include building 1.2 million homes, embarking on the ‘Future Made in Australia’ project, and driving a clean energy transition to net zero.

Key points

  • Reforms to transform manufacturing and construction
  • Turbocharging the clean energy workforce
  • Changes to apprentice incentives
  • Projects to boost women in non-traditional trades

To access our full budget summary, simply fill in your details below.

Budget Summary 2024-25

Future Workplace: Opportunity and Adversity in AI

We’re pleased to announce the launch of our APAC Workforce Insights Report titled Future Workplace: Opportunity and Adversity in AI.

The Artificial Intelligence (AI) revolution is upon us, poised to revolutionise the world of work in ways beyond our current comprehension. From finance to healthcare, manufacturing to media, its impact is already being felt across various sectors, compelling businesses of all sizes to adapt swiftly. From restructuring workflows to upskilling employees, evolution is not just a necessity but a strategic necessity in navigating the shifting employment terrain.

Key highlights:

  • AI Adoption Trends: With 80% of Asia Pacific employers currently using or considering AI, the report examines the regional nuances and leading markets in AI integration
  • Job Market and AI: Insights on how AI is reshaping job roles and the actions companies are taking to manage potential job displacement
  • Strategies for CEOs: Practical tips for leveraging AI to drive business growth and maintain competitive advantage
  • Skills of the Future: An overview of the critical human skills necessary to complement AI technologies

Download to read the full report and find out the insights now!

Attracting and Retaining Top Talent.

We’re pleased to announce the launch of our APAC Workforce Insights Report (October 2023) titled How To Attract And Retain Top Talent By Cultivating A Happy Workplace’.

It’s the survey results of 2,540 employees from 12 markets across the Asia Pacific region – Australia, China, India, Indonesia, Hong Kong, Malaysia, New Zealand, Singapore, South Korea, Taiwan, Thailand and Vietnam, who responded to our survey on their opinion about their job satisfaction at work.

The report decodes the power of a happy workplace, the importance and benefits of nurturing a culture of happiness, as well as tips on how to craft a happier work environment.

The key findings include:

  • Salary is not the top 3 drivers of work-life happiness
  • 97% of APAC respondents said that being happy at work is important.
  • 35% of the APAC respondents perceived themselves as the primary drivers in improving satisfaction at work.
  • However, only 67% of respondents reported reaching out to their managers for support in achieving their work-related aspirations, with 1 in 4 mentioning no discernible workplace change despite seeking assistance from their managers.

Download to read the full report and find out the insights for each market now!

Download the report

Diversity, Equity and Inclusion in the workplace: How do employees perceive employers’ DE&I?

We’re pleased to announce the launch of our Workforce Insights Report, ‘Diversity, Equity and Inclusion in the workplace: How do employees perceive employers’ DE&I?’.

Our 2022 Australia and New Zealand (ANZ) Workforce Insights supports HR leaders in understanding how employees regard the quality of their organisations’ DE&I practices in the workplace. In this report, we uncover the perceived benefit of DE&I practices in the workplace among workers from a minority versus majority and role and industry-based perspective to identify underlying areas for improvement.

Download the report

Hiring and Managing Talent Beyond Geographical Boundaries

We’re pleased to announce the launch of our APAC Workforce Insights Report, ‘Hiring and Managing Talent Beyond Geographical Boundaries’.

It’s the survey results of 1,326 employers from 12 markets across the Asia Pacific region – Australia, China, India, Indonesia, Hong Kong, Malaysia, New Zealand, Singapore, South Korea, Taiwan, Thailand and Vietnam, who responded to our survey on their opinion about offshore recruitment strategies.  The report highlights the adoption rates by market and industry, reasons for adoption, skills in demand, the trends, as well as strategies and effectiveness of offshoring.

Download the report

Building agility with a contingent workforce

Our latest report shows that the Contingent Workforce will play an even more critical role for businesses in the way forward.

Comprising the results of 1,112 employers from 12 markets across the Asia Pacific region – Australia, China, India, Indonesia, Hong Kong, Malaysia, New Zealand, Singapore, South Korea, Taiwan, Thailand and Vietnam, who provided their opinion about Contingent Workforce through our survey. 

The report highlights the trends, reasons, methods, and management of the adoption of a Contingent Workforce within APAC during and after the effects of Covid-19 pandemic. 

What do employees and employers want in the post-covid world?

The COVID-19 pandemic has brought with it a moment of clarity and shifted priorities for both employees and employers.

As the pandemic plunged many people into remote work, we’ve seen an increase in candidates expressing the flexibility to work remotely as the key consideration for accepting positions. Overseas experience is becoming more valuable than ever for employers, while both employers and employees across almost all industries are saying they value health and wellbeing support in their next or current roles. This report addresses the shifting priorities of employees and employers in a post-covid world and highlights the differing needs of both.

Download the report

From job seekers to career movers – what will employees prioritise in 2021?

Our 2021 Australia and New Zealand (ANZ) Workforce Insights Report will help supports HR leaders in understanding how employees see the current context and where they see themselves in the next 12 months.

As Australia and New Zealand emerge from recession and look towards the future, employees are starting to plan their professional prospects in an environment that has changed forever.

The pandemic has impacted people’s priorities in the way they approach their career progression, education and relationship with their current employer.

Companies and employees adapted quickly to the ‘new normal’ in 2020 but it seems that the post-pandemic recovery will bring more changes to workplaces across several industries.

What will employees prioritise in 2021?

Download the report

PERSOLKELLY Australia eBook

Download the eBook

In Focus: Happiness at Work Index

What Drives Happiness at Work?

As the world returns to a ‘new normal’, it is even more vital for employers to maintain a strong relationship and connection with their workforce. Employees will play a big role in determining business success beyond the post-crisis recovery period. Their happiness must continue to be a key point of consideration for companies. 

Our 2020 Australia and New Zealand (ANZ) Workforce Insights supports HR leaders in making the case to their businesses on the need to create a happy workforce and demonstrates the importance of employee happiness to a company’s productivity and success. 

In this report, we explore the current level of happiness in the workforce, the factors driving happiness at work, how employers should re-evaluate their benefits package and the importance of employers taking into consideration their employees’ needs.

Download the report