Robert Walters specialist Accounting & Finance team talk to economist James Hammond to find out what impact the forthcoming WA election could have on the local employment market and how the global political platform could shape the future of local economic policy.
What are the key factors influencing the WA election?
The focus of both parties during this election has been on jobs. This appears to resonate with the voting public given the slack in WA’s labour market in the past three years due to events such as the end of the mining boom.
What impact do you think the global economic setting has on the WA economic narrative and do you think this will this play a role in the forthcoming election?
As WA’s major trading partner, strong demand from China for WA’s bulk commodities has shielded WA from recent global economic and political uncertainty caused by changes on a global scale such as the US presidential election. However, with the state’s unemployment rate recorded at 6.6% in December 2016, which is above the national rate of 5.8%, voters will be more focused on the local economy and the impact that this will have on their own employment opportunities.
What do you think is the most likely outcome of the election and how will this influence the local employment market?
Recent polling suggests the election will be closely contested, although WA Labor has held the upper hand in most polling for a while now. However, both parties have announced economic and social infrastructure projects that will help support the State through the remainder of this low point in the business cycle.
Daragh Lindsay, Robert Walters Accounting and Finance Senior Consultant commented: in a competitive job market, job seekers must continue to up skill and educate themselves as employers will only hire top talent for available positions.
If you would like to find out more on current Accounting and Finance employment trends, or for a confidential conversation on your hiring needs, contact us today.
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