Both Australia and New Zealand have undergone a period of continued disruption over the past year as the COVID-19 pandemic swept through economies and communities.
Both countries have much to be thankful for when we look around the world and see what we have averted, thanks to all those who have steered us through this crisis. While the lingering effects of the pandemic will be with us for some time to come, there has been evidence in the recovery that is cause for optimism as we move forward.
Our 2021-22 Programmed and PERSOLKELLY Economic and Employment Key Insights and Salary Guide provides a comprehensive analysis of the state of the economy in Australia and New Zealand, across states, territories and regions, along with a snapshot of the forces at play in each of the industry sectors in which we operate.
The guide also provides a detailed look at salary levels across a range of roles in key sectors, allowing you to benchmark yourself or your team against other areas of expertise. The guide also offers key statistics, helpful tips and links to relevant articles that will help you advance your career prospects and inform business decisions over the year ahead.
Here is a sneak peek at some of the key insights from our report.
Australia’s economic recovery from the pandemic has been an international success story, but it has come with a hefty price tag.
- Economic growth to hit 4.25%
- Unemployment to dip below 5%
- Net debt to reach $1 trillion
New South Wales
The state that has traditionally been the economic powerhouse of the country had initially managed the COVID-19 crisis well and has seen a strong recovery, but it now faces a troubling headwind.
Australian Capital Territory
The nation’s capital rarely experiences the same economic highs and lows as elsewhere in Australia, and this has been to its advantage over the past challenging year.
It has been a challenging and frustrating time for Victorians who have been at the epicentre of Australia’s COVID-19 crisis.
Australia’s smallest state has belied its size and performed a remarkable economic turnaround.
When it shut its borders to other states Queensland faced a lot of flak, but it has now navigated a path back to growth.
First, it was drought and bushfires, and then the COVID-19 pandemic that smashed the South Australian economy.
A pandemic, closed borders, a state election, and now an economy on the march – the West is leading a resurgence in national recovery.
Tourism and LNG have been firing the Territory economy over recent years, and are now being joined by a new and more diverse range of industries.
It has been a rough ride for many in New Zealand over the past year, but it appears the tide is about to turn.
- Economic growth to quicken
- Closed borders constraining tourism
- Curbs on housing prices
New Zealand’s biggest city has led the way out of the COVID-19 induced recession but will have some of its momentum curbed by slower global activity and an enforced housing price slowdown.
Heavy reliance on tourist dollars hit New Zealand’s Canterbury district hard during the height of the COVID-19 pandemic, but the city has started to regain its momentum.
New Zealand’s capital is not as exposed to the COVID-19 fallout as many other parts of the country and has been able to avoid the worst side effects due to its efforts to build a more diversified industry base over recent years.
Click here to download our 2021 Economic and employment key insights and Salary Guide today to find out more! Or talk to one of our consultants who can talk through how to use the guide to improve your attraction and retention strategies.