Employment confidence rises but job market tightens
The Westpac McDermott Miller employment confidence index is up from September but lower than a year ago.
Employment confidence has risen in the past quarter though it is slightly lower than a year ago.
The Westpac McDermott Miller employment confidence index is up from 102.6 in the September quarter to 103.5 in December.
An index above 100 indicates there are more optimists than pessimists. The survey was conducted from December 1-14.
“Hopes of better employment conditions in 2011, specifically higher earnings and improved job security, saw employment confidence tick higher in the December quarter,” Westpac senior economist Donna Purdue says.
“However, employees are still extremely downbeat about current employment conditions. That continues to weigh heavily on the overall level of confidence, and is a little concerning given that we are 18 months down the path of recovery.”
The major issue for employees in the here and now is job availability.
“A net 63.4% of respondents say jobs are hard to get, up from a net 61.3% in September and close to the high reached in September last year when a net 66.5% of respondents felt jobs were hard to get,” Mrs Purdue said.
This is despite the positive developments in the labour market over the past year, she added.
NBR staff
Tue, 21 Dec 2010
Tue, 21 Dec 2010
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Employment confidence rises but job market tightens
11390