'Perceptions about the availability of jobs were the biggest contributor to the fall in confidence'
The number of job ads in New Zealand declined for the second consecutive month in May 2023, as jobseekers start to lose employment confidence.
Job ad volumes fell five percent month-on-month in May due to "small decreases" in large industries of Manufacturing, Transport & Logistics (-7%) and Trades & Services (-6%), according to Rob Clark, SEEK NZ Country Manager.
The biggest month-on-month losses in job ads were reported in the industries of Consulting & Strategy (-20%), Human Resources & Recruitment (-10%), as well as Hospitality & Tourism (-10%).
The biggest growth was recorded in the industries of Sport & Recreation (11%), Engineering (4%), and Construction (3%).
The Healthcare & Medical industry also registered a one per cent increase, with Aged Care Nurses and Psychologists & Counsellors driving demand, said Clark.
Employment confidence
The declining job ads could be a reason why employment confidence is also plummeting, according to Westpac Senior Economist Michael Gordon.
In the June quarter, employment confidence fell by 3.9 points to 105.6. While an index number over a hundred means optimists outnumber pessimists, the latest score has been the lowest recorded since June 2021.
"Perceptions about the availability of jobs were the biggest contributor to the fall in confidence," Gordon said in a media release. "This measure often provides a lead on the direction of the unemployment rate. The latest reading suggests that unemployment is on track to rise further from its lows over the course of this year."
However, this doesn't mean jobseekers aren't looking for work, as SEEK's findings said applications for job ads increased 13% in May.
"The nation's workers are mobilising again, with applications per job ad at levels not seen since the pandemic first hit and job ads were at record lows," Clark said in a media release.
According to SEEK, applications per job ads rose across all industries, with a 38% rise recorded in the Manufacturing, Transport & Logistics sector.
"Roles for Drivers, Couriers, Building Trades and Warehouse workers were particularly popular in May," Clark said.
