VET News

Recruitment Statistics are Positively Boosting Business Confidence

The National Skills Commission have released a range of very promising percentages which show that there is a significant increase in business recruitment confidence.

In March 2021 a number of employers were surveyed as part of the Recruitment Experiences and Outlook Survey which showed that:

• 46% were currently recruiting or had recruited in the past month
• 63% reported there were no risks to remaining open for the next six months
• 3% of employers reported that the end of financial assistance posed a risk to their businesses remaining open, and 
• 4% considered an employee contracting COVID-19 as a risk.

Data from the National Skills Commission’s Recruitment Experiences and Outlook Survey has found that 2020 was the first time that employers in areas outside of capital cities more frequently had recruitment difficulty than their capital city counterparts.   By far the two most common reasons mentioned by employers were a general lack of applicants (37%), and a lack of suitable applicants (35%). Other reasons included: applicants lacking technical skills (15%), COVID-19 impacting recruitment (11%), applicants lacking experience (10%) and the location of the business (9%).

NSC Commissioner, Mr Boyton said, “The reason for the increased prevalence of recruitment difficulty in Rest of State areas is not clear cut. However, given the enormous changes to the way people are working since COVID-19 and the closure of international borders, there is quite a different picture emerging between regional and capital city employment.

Additionally, online job advertisements have hit a 12 year high of 238,700, following a monthly increase of 19.1%, according to today’s release of the March 2021 Internet Vacancy Index (IVI).  This represents the 11^th consecutive monthly increase in job advertisements, which now stand at 96.4% above the level recorded in March 2020, the first month of economic restrictions relating to COVID-19.

There are now a record 13,077,600 Australians in work, with the level of employment now 74,300 (or 0.6 per cent) above its pre-COVID level in March 2020 and 947,100 (or 7.8 per cent) higher than the trough in the labour market recorded in May 2020. 

The Monthly Leading Indicator of Employment (the Indicator) has also risen for the tenth consecutive month in April 2021.  There was a strongly confirmed turning point in the Indicator in June 2020—indicating that cyclical employment is likely to grow above its long-term annual trend rate in the second half of 2021.

For further information on the above you can access the media releases and reports below:

• Recruitment Experiences and Outlook Survey report highlights business confidence - National Skills Commission
• Location a key reason for recruitment difficulty - National Skills Commission
• Job Ads at 12 year high - National Skills Commission
• ABS Labour Force figures for March - Minister for Employment, Workforce, Skills, Small and Family Business
• Monthly Leading Indicator of Employment (April 2021) - Department of Education, Skills and Employment

Date posted Apr 22, 2021