Hiring intentions in the Transportation & Utilities sector remain robust for 1Q19 despite drifting lower quarter-on-quarter with a Net Employment Outlook of +18%, according to the latest ManpowerGroup Employment Outlook Survey. The survey collects data from over 59,000 employers in 43 countries, including 1,500 in Australia. The outlook for 1Q19 is -5 points lower than the 7-year high recorded in the last quarter of 2018, but remains in positive territory with its second strongest result since early 2012. The latest data reveals the sector had the strongest year on year gain, up +7 points. The employment outlook is strongest for the Mining & Construction sector with a Net Employment Outlook of +22%, while the Wholesale & Retail Trade sector has recorded one of the strongest improvements compared to the same period last year as the sector appears to prepare for a post-Christmas hiring boost.
Confidence in the manufacturing sector is at its highest level since June 2003 with the sector investing for growth on the back of healthy profits and sales, according to the illion (formerly Dun and Bradstreet) Business Expectations Survey. The latest analysis reveals business confidence across all sectors rose 13.7 percent compared to the prior corresponding period, primarily driven by expectations for profits, sales and employment. The Business Expectations index is now at its highest level since late 2015. illion Economic adviser Stephen Koukoulas said the broad nature of the result bodes well for the economy in the near term. “Manufacturing firms that were able to withstand the global financial crisis and the Australian dollar above parity are now in a healthy financial position, buoyed by a stronger global economy and a lower Australian dollar.” illion CEO Simon Bligh said capital investment is crucial for sustained economic growth. “Capital investment planning is showing signs of growth, which is crucial for sustained momentum.” “The Manufacturing and Construction sectors appear to be in particularly good spirits as we start the year, which is another positive sign of the underlying strength of the economy.” The illion Business Expectations Survey full report for Q1 2018 is available here.