It’s been a little bit more than a month into the new year and there’s been plenty of activity thus far – not all have been for the right reasons.
Just recently we received this news from our Stat Bureau:
The jobless rate has shot up to 6 per cent, its highest level in more than a decade, as 3700 jobs were removed from the economy, official figures show.
There were 7100 full-time positions lost and 3400 part-time jobs added, the Bureau of Statistics data for January showed.
And of course a couple of days ago, we had this story on Toyota’s closure. Here’s a snippet from Ross Gittins column of that article:
You think 35,000 is a huge number of jobs to be lost? It isn’t. It’s 0.3 per cent of all jobs, equivalent to about two months’ net job creation in a normal year. You think this could put the economy into recession? We’re overdue for another recession but this isn’t nearly big enough to be the main cause of one.
Ross has spoken! Now let’s have a closer look at what he’s on about.
Job Market Demand: All-Industry
Is it indeed a drop in the ocean?
[You can go to the Manufacuring by clicking into the graph and hitting the page arrow at the top right]
One thing I will say though is that even though I agree with Ross, I am by no means down-playing the impact on those people working in the industry. This is a tough TOUGH situation to be in specially if you are counting on it as a career.
And what about the alarmist jobless rate from the Bureau? Here’s my Seek sneak-peak:
It appears that those claims have merit. But if you have been reading my Job Series, you would know that I have been saying the same thing for quite some time now.
Banking Job Numbers
Shifting our focus to the constituent parts that make up the broad based measure above, we have our Financial Services sector, represented here using ‘Banking measure’ as proxy.
If you compare the beginning of this year to last year, it looks like we’re in the same place. And this is a good thing – at least we did not take a backward step here.
Technology Job Numbers
Just to mix it up a little, this graph presents the difference in numbers between Sydney, Melbourne and other states.
Technology is the biggest number we have here – not a bad showing, considering that there are a fair few broad based measures as part of these stats. Are you considering switching to a new career? Perhaps you should consider the average salary in this industry and if it meets your expectation, then you should seriously consider where the job market numbers are.
Having said that, here is the trend:
It does not look friendly at all, BUT it is in a better place than the others considering the job openings.
Mining Job Numbers
Mining is certainly an absolute drag these days.
Let’s face it, China’s slowing demand has hit us BIG time. Has the Chinese growth bottomed out? Well it shouldn’t really matter given that the numbers only have a few more backward steps to go before it hits zero – i.e. we have bottomed out.
Of course you can check out the numbers yourself on this data sheet:
And just for good measure, here’s the link to the last JMD which explains the source and the filters used to derive these numbers.
Job Market Demand: Projects
This section once again is the number of jobs for contractors. These are classified here as contractors are typically hired to work in projects.
There’s some good news coming out of Melbourne recently. Yes, the numbers for Project Managers and Business Analysts do not look like much, but the numbers there have been much worse. They do trail Sydney in terms of absolute numbers coming out, BUT they have momentum – i.e. confidence – on their side.
Let’s have a closer look.
PM’s once again is a leading indicator of investment in projects. They start the project and usually see the projects through to implementation. So any upswing here is a good thing for our numbers – and it certainly suggests so compared to the same time last year.
And here’s a view of the working class men of the project world.
A good January, just like last year. However after the initial push, Sydney has noticeably slowed down in terms of raw numbers advertised (particularly in Feb). Perhaps the January hiring push has run out of steam.
Let’s now check out the people responsible for developing the solution.
Did you also notice that the developers have been leading the charge in the number of roles advertised for both full-timers and contractors? This is where the jobs are (even though it does not move our country like Mining does).
And here once again are the raw numbers:
And just before I go, here’s a new chart that I have been playing with recently:
The trick to the bubble is that you really have to get in there – click on the chart, change filters – and interact with it.
Until the the JMD report – take care out there.
PC @ MMA