Job ads 'remain above pre-pandemic levels'
Job ads in Australia declined 4.3% in November, according to the latest SEEK Employment Report, which found that demand for workers remains strong despite the decline trend this year.
"Since peaking mid last year, job ads have moderated, but remain above pre-pandemic levels," said Kendra Banks, Managing Director at SEEK ANZ, in a statement.
By industry, only the Insurance and Superannuation sector recorded a month-on-month (m/m) increase with 1.6% in November, while the rest registered a decline. According to the report, the biggest falls in November were recorded in the following sectors:
- Consulting and Strategy (-18.7%)
- Retail and Consumer Products (-7.9%)
- Real Estate & Property (-6.7%)
By state and territory, only South Australia recorded a month-on-month increase with 0.2%, while the rest recorded a decline.
New South Wales registered the biggest drop with -7.1%, its largest decline in over two years. This is followed by Victoria with -6.3%, with the report attributing it to the "relatively large drops in job ads in some large industries."
Demand still strong
Meanwhile, the report said job ad volumes are now 20.2% lower year-on-year but remain 13.6% higher compared to November 2019.
"The fact that job ads are still over 13% higher than November 2019 shows demand for workers is strong, despite the trend in most industries this year," Banks said.
And partly because of declining job ads, applications per job posting is growing, according to the report. In October, the applications per job ad went up 2.9% in almost every industry.
SEEK's findings came as Australia registered a 3.9% unemployment rate in November, a 0.1 percentage point increase, according to the Statistics Bureau.
"With employment increasing by 61,000 people, and the number of unemployed people rising by 19,000, the unemployment rate rose to 3.9% in November," said Bjorn Jarvis, ABS head of labour statistics, in a statement.
