Prospects for job seekers are bleak, with hiring expectations among businesses hitting a 12-month low.
Just 21 per cent of businesses plan to hire new staff in the coming three months, and nine per cent expect to cut jobs, according to Dun and Bradstreet's latest business survey.
That takes Dun & Bradstreet's employment expectations index to 12 points for the September quarter, down from 17 points in the June quarter.
"The outlook for employment has fallen to its lowest level in over a year," said Stephen Koukoulas, an economic adviser to Dun & Bradstreet.
"The overall picture from the business sector is that the economy remains soft, neither sustaining bouts of optimism, nor falling back towards severe weakness."
The dismal outlook comes ahead of Thursday's official jobs data for June, with economists expecting the unemployment rate to rise to 6.1 per cent, from a 12-month low of 6.0 per cent.
Dun & Bradstreet's survey also showed a weaker outlook from employers on their sales, profits and prices, though spending plans have improved thanks to low interest rates and a falling Australian dollar.
Businesses are doubtful about a recovery in demand and spending in the months ahead, with a lack of consumer confidence their key concern, Dun & Bradstreet said.
This uncertain environment will likely mean the Reserve Bank will keep its cash rate on hold for some time, Mr Koukoulas said.
Share
