'Brexit' impacts Australian Employment Market

July 15, 2016
Britain’s exit from the European Union does have an effect  on the Job market in Australia, although the recent elections in Australia did not affect the labor market. The Jobs advertised dropped in the last week post declaration of Britain’s exit from the European Union. 

‘Brexit’ impacts Australian Employment Market

The Australian job market has seen a steady increase of skilled individuals by 5 percent, over the past 12 months. According to the latest data employment firm SEEK; there is a 3.2 increase in jobs in the month of June 2016.  

Volatile markets and uncertain conditions in the wake of the Britain’s  vote to leave the European Union could be the possible reason behind the drop in the demand for jobs. South Australia has seen a 12 percent annual increase, post weak performance in the past few years. The State Government announced a bailout package of $109 million to stimulate growth, create 14,000 more jobs to encourage businesses to hire more staff.

New South Wales is active in providing employment opportunities and the ads published for employment opportunities is 8.2% for the year. It is moderate compared to the previous year 2015, where the ads published increased consistently by 20 percent.

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