SEEK Employment Trends Australia: job ad stabilisation continues across south-eastern states
The latest figures from SEEK shows that the number of new job ads placed with SEEK broadly stabilised in February 2014, following steady growth in the last three months of 2013 and a surge in new job ads in January 2014.
The SEEK New Job Ads Index, seasonally adjusted, fell by -0.9% in the month, but remains 3.8% higher than three months earlier.
SEEK Managing Director, Joe Powell, says, “the numbers we see in February point to the economic shift that is occurring from the resource states to the more populous states of the south-east. In the year to February 2014, new job ads rose by 9.2% in Victoria and 3.6% in New South Wales, while nationally they increased just 0.6%. During the same time period, Western Australian new job ads declined 17.5%, as the direct and indirect effects of the downturn in mining investment were felt."
The SEEK Employment Index, which illustrates the ratio of new job ads placed with SEEK to the number of applications for those jobs, fell by -3.0% for the month of February. This was after a jump by 7.6% in the three months to January 2014. The fall in the SEEK Employment Index in February appears to reflect a continued rise in applications, rather than any real weakness in the labour market.
“Applications for jobs advertised on SEEK have risen strongly so far in 2014, rising by nearly 6% in the first two months of this year. This could be attributed to the pick-up in job ads, the increase in consumer confidence and the increased engagement on mobile, with over 20% of applications on SEEK now coming from mobile devices," says Powell.
“The strong performance of the SEEK indicators in recent months is consistent with a range of positive economic indicators so far in 2014, including the consumer, housing and services sectors, as confirmed in the Australian National Accounts for the December quarter 2013. However, this must be balanced against some of the negative forces at work we’re seeing, such as the decline in the areas of manufacturing and the threats of government cutbacks at both state and federal level,” says Powell.
SEEK new job ads
SEEK new job ads fell marginally across Australia by -0.9% in February 2014. State-by-state breakdown is:
- New South Wales, -0.6%.
- Victoria, -0.3%.
- South Australia, -0.6%.
- Queensland, 0.3%.
- Western Australia, -5.5%.
SEEK Employment Index (SEI)
The SEEK Employment Index fell -3% in February 2014. State-by-state breakdown is:
- New South Wales, -1.8%.
- Victoria, -4.7%.
- Queensland, -1.4%.
- Western Australia, -5.7%.
- South Australia, -1.5%.