Australian employers have reported strong hiring intentions amid the improvement in labour market conditions over recent months. The Australian unemployment rate fell from to a steady 4.9 percent in April, the lowest since December 2008, with employment growth recovering quickly after the Queensland floods.

Australian employers have reported strong hiring intentions amid the improvement in labour market conditions over recent months. The Australian unemployment rate fell from to a steady 4.9 percent in April, the lowest since December 2008, with employment growth recovering quickly after the Queensland floods. The Australian Bureau of statistics reported the fall in unemployment was driven by the addition of 32,100 full-time positions and 5,700 part-time jobs. Trend data released by the Australian Bureau of Statistics also revealed that in Western Australia, total employment increased by 1,500 to 1,227,000 in April 2011

The economic outlook is positive due to the rapidly growing job market, which is at its fastest rate in five years. The implication of this surge in demand is an expected shift in bargaining power to employees. Wages are now growing at a rate of 7.2% per year, significantly higher than the 20 year average of 5.6% per year. This has already been felt in the form of increasingly competitive remuneration packages.

All industries continuously reported positive employment expectations. The majority of employers across all states and territories within Australia intend to increase their staff levels. Growth has varied across industries with property and construction, energy and resources, and sectors within both financial and professional services generating the greatest demand for candidates. The resources industry nationally remains very strong and this is likely to continue over the coming months. In the long-term, analysts say the economy will generate even more jobs in industries related to the mining boom for example engineering, construction and other trades.

2011 has been an active year for recruitment and the increase in employment, improvement in the economy and increased confidence in market conditions has fuelled rising demand for skilled and experienced talent. Competition for employees is growing rapidly and we’re returning to a state of candidate shortage. This trend is expected to continue as more organisations experience growth.  Hence, it is becoming harder for employers across Australia to identify and retain the best talent. More temporary and permanent positions are now available and more new jobs are being created to meet the increased workload.  Companies will need to focus on attracting and retaining the best talent available in the marketplace to ensure ongoing business growth. Strong recruitment processes and procedures should be at the forefront of employer’s agenda to secure the top talent before another organization snaps them up.