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A CXC Global Knowledge Initiative
Monthly Media Brief
Employment | The Economy | Contract Work
May 2015
INTRODUCTION
The purpose of this monthly report is to provide you with an opportunity to
better understand recent news at ...
THE ECONOMY
This is a summary of the coverage around the
economic outlook for Australia for the period:
20 May 2015 – 3 Ju...
ECONOMY UPDATE
"This data is so bad it
would worry the Reserve
Bank and raises the risk
they will cut rates again
ahead."
...
Mining as well as non-
mining firms are
planning to slash
investment in the year
ahead, cutting total
investment spending ...
JOBS OUTLOOK
This is a summary of the coverage around jobs outlook
for Australia for the period: 20 May 2015 – 3 June 2015
JOBS OUTLOOK
A
B C
Unemployment Rate
Largely flat, with an expectation of slight
increase in unemployment rate – from 6.2%...
CONTINGENT
WORKFORCE
COVERAGE
CONTINGENT WORKFORCE COVERAGE
A slight increase in coverage on contingent working: the
increasing prevalence, the strategi...
Sources
Economy & Jobs:
1. Capital investment down http://bit.ly/1Q5UIj0
2. Consumer confidence http://bit.ly/1BKiOnC
3. S...
Contact CXC Global Level 6, 9 Hunter St Sydney NSW 2000Address:
Phone:
Web:
E-mail:
+61 1300 724 082
cxcglobal.com.au
info...
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Media Brief - May 2015

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The purpose of this monthly report is to provide you with an opportunity to better understand recent news at both a macro & micro level, to understand topical trends covered in the media around the economy and the contingent workforce - both locally & globally, and to discuss how these may impact business in Australia and New Zealand.

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Media Brief - May 2015

  1. 1. A CXC Global Knowledge Initiative Monthly Media Brief Employment | The Economy | Contract Work May 2015
  2. 2. INTRODUCTION The purpose of this monthly report is to provide you with an opportunity to better understand recent news at both a macro & micro level, to understand topical trends covered in the media both locally & globally, and to discuss how these may impact business in A/NZ. 1
  3. 3. THE ECONOMY This is a summary of the coverage around the economic outlook for Australia for the period: 20 May 2015 – 3 June 2015.
  4. 4. ECONOMY UPDATE "This data is so bad it would worry the Reserve Bank and raises the risk they will cut rates again ahead." - UBS economist George RBA will hold interest rates for now 1 There’s a recessionary feel to some coverage: slipping from ‘bleak’ to ‘recessionary’ last week in the SMH – with private capital expenditure down Recessionary Feel 2 Assistant Treasurer Josh Frydenberg: super tax change could come after the election Potential changes to super laws on the horizon 3 According to chief economist, Warren Hogan, confidence is being upheld by positive reactions to the federal budget as well as continued house price gains, which has offset otherwise poor household fundamentals Consumer Confidence Flatlined 4
  5. 5. Mining as well as non- mining firms are planning to slash investment in the year ahead, cutting total investment spending by 21 per cent Decrease in mining industry investment 5 Mining investment down 34% Manufacturing sector Investment down 24% Other sectors down 6.1% Survey of Chief Financial Officers 6 A B C
  6. 6. JOBS OUTLOOK This is a summary of the coverage around jobs outlook for Australia for the period: 20 May 2015 – 3 June 2015
  7. 7. JOBS OUTLOOK A B C Unemployment Rate Largely flat, with an expectation of slight increase in unemployment rate – from 6.2% to 6.5% A Shift to Digital Shift to digital means many jobs are at risk: especially retail & admin in financial services, sales, office etc B US Jobs US jobs data looking positive: encouraging signs of confidence from both employees and employers C
  8. 8. CONTINGENT WORKFORCE COVERAGE
  9. 9. CONTINGENT WORKFORCE COVERAGE A slight increase in coverage on contingent working: the increasing prevalence, the strategic direction taken & under consideration by employers Meeting the needs of business flexibility is a key driver Risks are still at the forefront: worker classification webinar (HR Anywhere presented, hosted by ITCRA) Quality of contingent worker is increasingly discussed 1 2 3 Integration issues are prevalent too: how deeply integrated should contingent workers be with full timers?. Engagement levels are an issue: the more engaged contingent workers are, the better their output. This plays against the rules of worker classification however – deeply integrated contractors could be deemed employee 4 5 4 5 2 3 1
  10. 10. Sources Economy & Jobs: 1. Capital investment down http://bit.ly/1Q5UIj0 2. Consumer confidence http://bit.ly/1BKiOnC 3. Super tax change http://bit.ly/1eQaf5U 4. Business expectations survey http://bit.ly/1eQbeD6 5. Business expenditure down http://bit.ly/1eQbnGG 6. Digital Shift means some jobs on the decline: http://bit.ly/1BKdAbx 7. US jobs outlook http://on.wsj.com/1RKsgjX Contract Work: 1. Australia’s need for flexibility in the workforce: http://bit.ly/1FtsGDI 2. Blending contractors & in-house staff: http://bit.ly/1Ftt0SW 3. Worker quality: http://bit.ly/1d2NF8K 4. Contract worker engagement: http://bit.ly/1IgX47E 5. Blending contractor & perm workforces: http://bit.ly/1Ftt0SW
  11. 11. Contact CXC Global Level 6, 9 Hunter St Sydney NSW 2000Address: Phone: Web: E-mail: +61 1300 724 082 cxcglobal.com.au info@cxcglobal.com.au

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