All Articles Skilled Labour s Market stabilising Nov 09
Skilled Labour s Market stabilising Nov 09
After free-falling for two quarters, the skilled labour market is finally starting to benefit from the federal government’s stimulus package, according to the latest Clarius Skills Index.
The main beneficiaries have been in the building and construction sectors and associated occupation categories where the downturn has stowed the rate of job losses and appears to be bottoming out.
Building and engineering professionals dropped 4.7 points from the September quarter last year but slipped only 0.4 compared to last quarter. And Index figures for construction tradespersons dropped 6.4 points from the September quarter last year but moved down only by 0.8 when compared to the June quarter.
For the September quarter 2009, the index is currently viewed as being moderate, at 98.2, seasonally adjusted. At this level, the index is 0.6% lower than the 98.8 recorded in the previous June 2009 quarter, and 4.7% lower than the 103.0 registered at the same time last year.
A score of 100 in the Clarius Skills Index indicates equal tension between labour supply and demand. Anything greater than 105 on the skills shortage side of the Index is regarded as extreme shortage. A score of 95 to 98 is moderate; 95 or less is considered low.
The index is now at its lowest level since 2001 when it dropped 97.6. However, the latest labour force data indicates that this should now stabilise then recover in coming months.
“The government has always claimed the stimulus package were specifically targeted. And this quarter’s Clarius Skills In provides a good indication of where it is starting to have some impact. But our feedback is that companies are still cautious”, Clarius Group Executive Manager, Kym Quick, said. “The building and construction industries are not yet seeing a lengthening pipeline of projects becoming available. But there are certainly pockets of activity. In sectors like health, there is increase in demand.”