Comparison Tool

Comparison Tool

Report Download

Report Download

Compare Country Results

Compare Country Results
Countries
australia flag

Australia

View local website

Overall score

Score by Indicator

5.5
in 2016 5.1
0 2.5 5 7.5 10

Key drivers

Labour market participation

Australia’s labour market participation rate is expected to fall this year. Lower migration and an ageing population contribute to the shrinking labour force.

Talent mismatch

An increase in the rate of unfilled vacancies combined with a rising long-term unemployment rate indicates that employers are finding it harder to source workers with the right skills.

Wage pressure in high-skill occupations

The largest driver of Australia’s tightening labour market is the increasing gap between wages in high-skill occupations compared to lower skill ones, relative to the past.

COMPARISON TOOL

Select a country to compare with Australia:

COUNTRY OVERVIEW

View from the ground

Nick Deligiannis, Managing Director, Hays Australia

Australia’s fluid job market is delivering career advancing opportunities as greater confidence and the need to support growth and business changes fuel permanent and temporary/contract job creation. But the talent required for these roles as changed, with highly skilled professionals sought over those who perform routine or repetitive tasks can be automated. At the same time, the labour force is shrinking and is less likely to possess the skills employers want. Add wage stagnation and Australia’s overall score has returned to 5.5, a figure not seen since 2013. In such a market, will employees remain loyal or will voluntary staff turnover intensify? Early indications suggest the latter, making talent management and career and skills development more important than ever.

Nick Deligiannis, Managing Director, Hays Australia

Country Profile

While still only displaying moderate labour pressures overall, Australia’s score in the Hays Global Skills Index has increased significantly since last year.

Australia’s economy is forecast to grow by 2.5 per cent in 2017, equivalent to the growth rate experienced in 2016, which should see demand for labour remain high.

A sign of labour market challenges can be found in job vacancy rates, which rose in Australia in 2015 and 2016, suggesting employers find it increasingly difficult to attract and retain talented workers.

Key skills in demand

  • Digital experts (DevOps engineers and solutions architects)
  • Engineers
  • Senior accountants
  • Financial planners
  • Residential estimators

News and Press Materials

Nick Deligiannis, Managing Director, Hays Australia