White collar employment showed a significant increase in this year’s first semester creating an additional 61,560 jobs, accounting to 36% of the total increase in the total Australian employment, as per ABS employment record. This resulted to more office demands on certain cities in the country.
Melbourne holds the highest growth of white collar employment followed by Sydney and Perth giving these cities stronger levels of office net absorption. Commercial space operators take this chance to build or provide new offices which eventually cause higher competition in the market.
Opportunities for white collar employment are expected to rise further despite the indications of weaker labor market and economic conditions in the first half of the year. Statistics show favorable increase on business income. State Government budgets reveal strong pipelines of infrastructure spending. This lead to interest rate falloff that opened doors for Australian business services affordability.
In the past three months, white collar employment increased by 4,100. Workforces are distributed to businesses such as business administration and special business services, listing a record of 35,600 and 13,800 jobs expansion. Employment records in the property almost remained while other white collar industries declined. On the other hand, government employment displays instability in number but records an increase of 16,000 jobs in the three months to February.
Image and article Source: Investa Research Office Market Indicator
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