The employment market is a "lagging indicator" for economic growth. The common wisdom is that hiring intentions, or retrenchment intentions as the case may be, lag economic growth figures/trends by approximately six months. It would appear, from reading most of the leading indices, that Australia largely avoided the worst effects of the Global Financial Crisis. Hiring intentions are starting to turn profoundly positive, and employment advertising (online and print) is increasing in volume and frequency.

The financial services employment market is not growing universally. Some segments are still rather subdued, some are in neutral mode and some are struggling to find enough qualified and experienced staff to meet the demand. It is unwise to generalise. Australia’s superannuation system is often hailed as the best in the world and will continue to provide investment stimulus into the future, providing on-going career opportunities.   

The Australian share market is performing strongly, commercial and particularly residential property is sound and consumer and business confidence indexes are better than they have been for some time. It all augurs well for a relatively positive 2010!