Australia bypassed the worst of the global financial crisis with regard to net job losses and income levels. Therefore, the effect of the crisis in subsequent years on the industry was mild compared with similar industries in other countries. In Australia, unemployment rose in 2009-10 but quickly reversed in the following year, with demand for employment placement services rebounding strongly. Employment demand remained strong in 2011-12, while the unemployment rate started to increase at a faster rate in 2012-13 and 2013-14. The unemployment rate is expected to increase again in 2014-15, negatively affecting industry demand despite outsourcing growth.
The industry includes firms that provide personnel search, selection, referral and placement services, to fill permanent work positions. Services may be supplied by industry firms to the potential employer or the prospective employee. For the employer, services can involve all aspects of the recruitment process from the formulation of job descriptions to screening and testing applicants and investigating references. Services to the employee include job-search assistance and training.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.