IT employment up over 4% in Q2, Australian Bureau of Statistics reveals
The latest Labour Force figures from the Australian Bureau of Statistics (ABS) for May 2017 reveal steady employment growth for the last quarter across information, media & telecommunications, while jobs remain steady across financial and Insurance Services, and declining across Administrative and Support Services since March 2017.
Employment in the information technology sector has increased by 4.1% since March, adding 8,400 jobs. In 12 months, the sector has nearly 19,000 additional jobs, representing a 9.6% increase. Jobs in the finance and insurance and administration sectors have dipped by 1.6% and 3.4% in the last quarter, respectively.
These industry trends are despite an enormous increase in overall employment for the third consecutive quarter, with unemployment at its lowest level since February 2013 (the jobless rate fell to 5.5% in May from 5.7%).
Andrew Morris, director at Robert Half, explained, “It appears ‘jobs and growth’ is not just a slogan being thrown around, as employers are not only filling vacant jobs but also adding new roles to their teams, particularly within the technology sector.
“The technology sector, spurred along by rapid digitisation, is evolving faster than more functional sectors such as finance and admin. Persistent cyber-security threats and a focus on customer-centric technology is creating more jobs within organisations looking to increase their innovative footprint.
“Despite a small decline, growth is still consistently steady within the finance and admin sectors, with employers still hiring for vacant and value-add roles, especially in the accounting and customer-service sectors.
“For IT professionals, specialist skillsets are in high demand as the sector continues to evolve and keep pace with rapidly changing technology. Jobseekers who specialise within a very specific functional area, such as IT security or applications development, will be able to differentiate themselves in a competitive employment landscape.
“Business sentiment is currently positive, which is good news for jobs creation and salary levels. The war for talent for specialised talent continues – and employers looking to hire will need to sweeten their financial incentive offerings. Our recent salary research has found optimistic year-on-year salary increases for numerous roles within many areas of technology, admin and finance.”
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