Finally Some Positive Signs

SEEK has recorded new job advertisements in Australia rising by nearly three per cent from February to April this year. Reporting an increase  of 2.8 per cent overall, Joe Powell, SEEK Managing Director says this trend has been growing from the end of last year: “Toward the end of 2013, we saw signs that the labour market was showing strong confidence. It’s been encouraging to see the continuation of that confidence in 2014, despite the recent talks of the need for economic reform from the Federal Government.”

The data shows the growth in new job ads set at the end of 2013 has continued into 2014, perhaps reflecting some stability in the confidence of employers and jobseekers. Powell also notes it is also encouraging to see a correction in Australia’s two-speed economy, with non-mining states driving employment opportunities across the country.

SEEK’s data shows month-on-month new job growth can be seen in New South Wales (2.4 per cent), Victoria (1.3 per cent) and South Australia (1 per cent). New job ads declined by 3.6 per cent month-on-month in Western Australia, and 0.4 per cent in Queensland.

The SEEK Employment Index measures the ratio of new job ads placed with SEEK to the number of applications for those jobs, a key indicator to understanding the relationship between demand and supply for labour. In April, a 2.8 per cent national fall in the Index was evident across all states.

In seasonally-adjusted terms, new job ads listed in April rose by 0.8 per cent month on month, however, applications for those jobs rose by 3.7 per cent. It points to an activated job-seeking market which indicates an underlying excess supply of labour. The strongest growth in applications occurred in those states that also had the biggest increases in new job ads, Mr Powell believes the job market could soon see new applicants entering the market.

“The more jobs that are available, the more confidence jobseekers will have to re-enter the market or take the next step in their career,” says Mr Powell, adding that those considering a change in their professional life should keep an eye on how their sector is performing.

The top five growing types of roles, year-on-year, are design and architecture (up 102.94 per cent), carpentry and cabinet making (up 101.12 per cent), human resources and internal recruitment (up 64.84 per cent), vocational trainers (up 59.02 per cent) and builders (up 58.48 per cent).