Is a recovery heading our way?
Even if there are no immediate proof, as a nation we are becoming more optimistic about the economy. ANU quarterly study found more Australians think the worse is behind us (Full report here). A similar theme is echoed by Nielsen’s Global Confidence Survey which found Australians are one of the most positive about economic recovery. Unemployment stands at 6.8%, but we are way ahead of other developed economies (spare a thought for Zimbabwe where the unemployment rate is 94%)
Meanwhile, SEEK share price stands at a healthy $4.4, whereas it was hovering around $2.02 only a few months back. While job vacancies dropped, the rate of decline has actually diminished (ANZ survey). In fact, Olivier’s version reported a steady rise in contracting roles. Aquent’s Market Eye also suggested increasing optimism amongst employers, with permanent hiring set to increase in the next six months.
The fact is a recovery will come. But the real question is when the recovery does comes, will we be ready?