The employment trends report from EL Consult showed that the ICT sector was not the only industry growing rapidly, as the economy across the board continued to grow despite a short lapse at the beginning of the year.
“The support came from Queensland and Victoria, mostly from the private sector,” EL Consult notes.
“Marketing dollars are also going into Information Technology as the methods of delivery have gone digital."
“This will transition from IT to marketing roles eventually as it did with accounting. In that sector an earlier IT boom occurred as financial reporting was digitised but now the accountants themselves have all the IT knowledge needed.”
“The E.L Index is now at its highest level in six years,” says Montgomery, adding that “these numbers take in the rising interest rates in the US but of course we need to wait till next month to see what if anything the topical trade and tariff issues do to the international economy”.
“Regardless Australia looks like it will have a privileged position,” Montgomery notes.
“We are seeing growing strength across every state and most sectors.
“And the strength is not just in one or two states or employment areas but right across Australia in every state and every sector.
“Of course, infrastructure development and housing has pushed up the demand for engineers but other sectors like management in general is also booming.”
Looking forward, Montgomery notes that governments, “which are the largest employer of management level people, are now getting their new calendar year budgets and this will allow further growth in this sector as various departments expand their work forces”.
“Wages growth has not been strong of course but this has put a cap on inflation in the short term which has get inflation in check. Once this moves up prices and inflation will closely follow, and this will force up interest rates which is not a good thing given the high household debt many Australians carry.
“But for now, things are pretty sweet, and we should enjoy it while it lasts.”