The big picture: The Westpac-McDermott Miller Employment Confidence Index rose by 3.2 points to 86.3 in September 2026, only partially reversing the sharp fall observed in the previous quarter.

Why it matters: This weak rebound suggests underlying caution in the labor market, impacting hiring strategies and talent retention efforts for businesses and staffing firms.

Between the lines:

• The index increased by 3.2 points, reaching 86.3.
• This gain represents only a partial recovery from a sharp decline in the prior quarter.

Staffing & HR impact: Staffing firms may continue to experience client hesitancy in hiring, potentially impacting gross margins. HR departments should prepare for a conservative talent acquisition landscape.

The bottom line: A fragile recovery in employment confidence points to ongoing economic uncertainty.