Job ads reach highest levels since 2010
The latest data from SEEK Employment Trends shows a year-on-year increase of 13.2%. This signals the best conditions for candidates in seven years, so you may be in for some tough competition. Now may be the time to polish up your recruitment strategy.
The positive results were shared across the country with job ad growth reflected in each state and territory. Some regions even bounced back to their pre-GFC levels of advertising on SEEK.
Michael Ilczynski, Managing Director for SEEK Australia and New Zealand, says conditions are favourable for job seekers with new job ads in August reaching a seven-year high.
“These positive trends in advertising on SEEK point to an improving labour market and suggests that positive economic momentum, evident in the June quarter National Accounts GDP Report, is continuing into the second half of the year,” says Ilczynski.
Mining industry digs deep
Although there was a dip in job ads for four industries, including banking and financial services and advertising, arts and media, the vast majority of sectors recorded year-on-year growth in August.
The mining, resources and energy industry was out in front again with job ads on SEEK rising by 72% and the average advertised salary was $111,477.
Ilczynski notes that while this increase was coming off a low base, it represents positive signs for the sector.
“The pick-up of exploration activities by mining companies, especially in Western Australia, after cutbacks over the past few years, is driving job advertising growth on SEEK across the Mining, Resources & Energy industry,” he says.
Industries on the rise
Australia’s information and communications technology industry experienced year-on-year growth of 9% and the average advertised salary was $102,736. The sector is among the greatest sources of employment opportunities for candidates on SEEK.
Demand in the construction industry may also be having a flow-on effect to trades and services where SEEK job ads grew by 28% and the average advertised salary was $64,376. The industry is also one of the greatest sources of job ads on SEEK.
Meanwhile, education and training saw a year-on-year lift of 3% and the average advertised salary was $83,098. Ilczynski notes that childcare and outside school hours care workers are the most sought-after professionals across the industry.
“It’s no surprise that childcare professionals are in demand on SEEK,” he says. “Childcare is a booming sector across Australia. A recent review of the Australian Childcare industry by Colliers International in May 2016 revealed that 1.2 million children attend approximately 17,000 government-approved childcare services nationwide, and those numbers have grown substantially over the last five years, recording an annual growth rate of 4.6 per cent.”
Trends across the country
High levels of job ads were experienced across the largest employment states of Victoria and NSW and the trend has been increasing over the past four months. South Australia and ACT also delivered strong results relative to the past five years.
“Advertising trends continue to be very positive in NSW (up 7.4% year-on-year), Victoria [up 15.5% year-on-year], South Australia (up 19.5% year-on-year), and the ACT (up 3.6 % year-on-year),” says Ilczynski. “In these regions, the number of job ads on SEEK have all recovered to their pre-GFC levels.”
Tasmania and the Northern Territory recorded the strongest growth in job ads on SEEK in August, although Ilczynski says the results were coming off a low base. The island state notched up year-on-year growth 33.8% while NT recorded a 23.7% lift over the same period.
The promising news continued for Queensland where the labour market has been recovering in since April. Advertising for the state on SEEK grew by 20.3 per cent year-on-year in August and trades and services remains its top advertising industry, recording year-on-year growth of 44%.
“In WA, conditions were weaker but still positive, with job ads on SEEK up 14.8% year-on-year,” adds Ilczynski. “Fuelling this growth was strong advertising across mining, resources and energy (up 52% year-on-year), trades and services (up 26% year-on-year) and healthcare and medical (up 6% year-on-year).
With job ads on SEEK at their highest level since 2010, you may need to consider your employee value proposition to attract the best talent. Competition may be about to heat up. Let’s see what September has in store.