Australian employer confidence has dropped to a five year low as employers are unsure of what impact will have on their businesses, a survey has shown.
A global recruiting firm based in Sydney has conducted a survey of 7,200 hiring managers which showed that Australian Employer confidence was at its lowest level in five years. 
Employers are less inclined to hire permanent staff now than they were at in early 2008 when employer confidence was at a record high.
The proportion of employers intending to increase their permanent staffing levels in the three months to December 31 fell 7.8 percentage points to 33 per cent, compared to the previous quarter, according to the survey.
Western Australia remained the most confident state, with 46.9 per cent of employers intending to increase staff numbers, although this was a decline of 11.4 percentage points compared with last quarter.
New South Wales was the least confident state, with 28.5 per cent of employers intending to increase staff levels, a 10.1 percentage point decline from last quarter.
The construction, property and engineering sector again recorded the highest level of optimism of the 19 sectors surveyed, with 46.3 per cent of employers intending to boost their head count.
The financial services sector has fallen to its lowest point in six years, with 24.60 per cent of employers intending to increase the head count, the survey said.
Managing Director of Hudson Australia and New Zealand, Gary Lazzarotto, said it was “the lowest level of confidence recorded in five years”.
“Businesses appear to be moving into a holding pattern until they have a clear vision of what’s ahead,” he said in a statement.
“It’s important to remember the Australian employment market was reporting record high levels of confidence this time last year, so even in light of the declines the market still remains quite strong.”
Lazzarotto said the decline in financial services mirrored the sector’s globally unsettled nature