There will be more jobs for Australians in the new year, with one in ten business executives planning to hire in the three months to March.
Dun & Bradstreet’s most recent business expectations survey found executives optimistic about 2014 sales and employment activity.
About 10% of executives said they would employ more staff in Q1 2014 than this year, while 5% said they would cut staff. For comparison, 10.2% of businesses hired new staff in the most recent quarter, while 11% cut staff.
Today’s survey results put Dun & Bradstreet’s employment index above zero – indicating an expanding jobs market – for the first time in 6 months:
Dun & Bradstreet’s findings are in sharp contrast with economic predictions that Australia’s unemployment rate will rise from October’s 5.7% to over 6% next year.
NAB found a significant drop in business confidence in October, noting that unemployment levels would drive the timing, extent and number of any future rate cuts from the RBA.
Australian economists are currently split on the likelihood of a lower cash rate. Dun & Bradstreet today suggested that GDP growth would exceed 3% in 2014, limiting prospects for further cuts.
There’s more in the report.
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