Australian employers are taking a confident but cautious approach into the final quarter of 2023 with a net +32% expected to increase headcount during Q4, according to the latest ManpowerGroup Employment Outlook Survey report released today.
Of the 1,020 Australian employers surveyed, 45% reported an intention to increase their headcount during the coming quarter, 13% anticipated a decrease while 39% expect no changes to their numbers. The resulting Net Employment Outlook (NEO) is +32% after seasonal adjustments.
- Net +32% of Australian employers expect to increase headcount in Q4.
- Information Technology sector hiring intentions decrease from record highs.
- Transport, Logistics & Automotive sector predicts strong hiring ahead of Christmas.
This result represents a two percentage point decrease from the last quarter and a six percentage point decrease since the same quarter last year.
ManpowerGroup Australia Managing Director, Penny O’Reilly says, the latest figures demonstrate the resilience of the Australian market and the underlying confidence business leaders are maintaining in the uncertain market.
“Across the board Australian leaders are holding their confidence. Despite ongoing challenges around supply chain, inflation and talent availability, the latest hiring intention figures suggest many employers are absorbing these challenges better than expected,” Ms O’Reilly said.
“There is a cautious confidence in the market right now. Employers understand they can no longer choose to lock down when faced with a period of uncertainty and as a result we are seeing a more consistent approach to hiring.”
Positivity continues across all sectors
Hiring intentions remain positive in all sectors across Australia in Q4. The strongest hiring outlooks were reported in the Transport, Logistics & Automotive (+47%), Financials & Real Estate (+41%), and Industrials & Materials (+37%) sectors.
The Transport, Logistics & Automotive sector recorded the strongest hiring intention ahead of Christmas
The Transport, Logistics & Automotive sector recorded a NEO of +47%, a 16 percentage point increase on last quarter, and an 18 percentage point increase on the same period last year.
Hiring intention in Australia’s IT sector has cooled significantly compared to last quarter
Australian Information Technology sector recorded a Net Employment Outlook of +29%, this is a 32 percentage point reduction compared to last quarter and reflects the distinct shift in talent demand the sector is experiencing.
Medium sized organisations are the most optimistic
Medium sized organisations (50-249 employers) recorded the highest hiring intention with a NEO of +36%. This is a 4 percentage point reduction compared to last quarter and a 2 percentage point increase on the previous year.