A CXC Global Knowledge InitiativeMonthly Media BriefEmployment | The Economy | Contract WorkMay 2015

INTRODUCTIONThe 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.

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THE ECONOMYThis is a summary of the coverage around the economic outlook for Australia for the period: 20 May 2015 – 3 June 2015.

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

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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

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Assistant Treasurer Josh Frydenberg: super tax change could come after the election

Potential changes to super laws on the

horizon

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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

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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

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Mining investment down 34%

Manufacturing sector

Investment down 24%Other sectors down 6.1%

Survey of Chief Financial Officers

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A

B

C

JOBS OUTLOOKThis 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 RateLargely flat, with an expectation of slight increase in unemployment rate – from 6.2% to 6.5%

AShift to DigitalShift to digital means many jobs are at risk: especially retail & admin in financial services, sales, office etc

BUS JobsUS jobs data looking positive: encouraging signs of confidence from both employees and employers

C

CONTINGENT WORKFORCE COVERAGE

CONTINGENT WORKFORCE COVERAGEA 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

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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

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SourcesEconomy & Jobs:

1. Capital investment down http://bit.ly/1Q5UIj02. Consumer confidence http://bit.ly/1BKiOnC3. Super tax change http://bit.ly/1eQaf5U 4. Business expectations survey http://bit.ly

/1eQbeD65. Business expenditure down

http://bit.ly/1eQbnGG 6. Digital Shift means some jobs on the decline:

http://bit.ly/1BKdAbx7. US jobs outlook http://on.wsj.com/1RKsgjX

Contract Work:8. Australia’s need for flexibility in the workforce:

http://bit.ly/1FtsGDI9. Blending contractors & in-house staff: http://

bit.ly/1Ftt0SW10. Worker quality: http://bit.ly/1d2NF8K11. Contract worker engagement: http://bit.ly

/1IgX47E12. Blending contractor & perm workforces:

http://bit.ly/1Ftt0SW

Contact CXC Global

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Web:E-mail:

+61 1300 724 082cxcglobal.com.auinfo@cxcglobal.com.au