THE SEEK EMPLOYMENT INDEX (SEI), a dynamic snapshot of the match between the supply of jobseekers (applications) and the demand for workers (job ads)on seek.com.au, firmed by 2.9 per cent for January.
Most notably, new job ads rose by a seasonally adjusted 7.1 per cent.
New ads have now risen by 31.8 per cent since their trough in June 2009 and suggest that the labour market is following a pronounced U-shape pattern—the sharp fall in ads after the December 2007 peak now being followed by a positive looking trend.
SEEK New Job Ads Index (Average 2002-04 = 100), seasonally adjusted
Unlike other Australian job indices, the SEI measures the flow of new jobs for the month, rather than stock of jobs at a point in time, and as such is the leading economic indicator of job activity in the country.
While the persistent rebound in labour market conditions is being felt in all states and territories, the speed of the labour market recovery across the mainland states varies. Western Australia is setting the pace, with New South Wales and Victoria also performing strongly. Although having turned a corner, Queensland and to a lesser extent South Australia, are lagging by comparison. New job ads in Western Australia have grown an astonishing 50 per cent between June 2009 and January 2010, while in Queensland the increase has only been about 20 per cent.
SEEK Employment Managing Director Joe Powell said the start to 2010 was reassuring, with the sustained improvement a strong sign that job growth may have turned the corner.
“The steady recovery of the labour market now seems to be showing a clear trend in the right direction,” said Mr Powell. “Looking at the trend in new job ads, it would appear that unemployment has peaked below the higher figures widely anticipated and a recovery could be forming.”
The SEEK Employment Index
The SEI increased by a seasonally adjusted 2.9 per cent in January.
New South Wales (7.3 per cent) and Western Australia (4.9 per cent) significantly contributed to the increase in the index, while the job market in Victoria (3 per cent), South Australia (2.2 per cent) and Queensland (2 per cent) enjoyed a moderate improvement.
This trend means that its becoming gradually easier for jobseekers to find jobs and harder for employers to find candidates
Job Advertisements
New job ads placed with SEEK rose by a seasonally adjusted 7.1 per cent for January.
New job ads increased in all states and territories. January’s improvement was lead by New South Wales (10.5 per cent) and South Australia (10.4 per cent). Western Australia (8.7 per cent), Queensland (7.8 per cent) and Victoria (7.1 per cent) recorded solid increases.*
* State and national estimates are adjusted separately and the latter is not the average of the former, especially in times when seasonal effects are particularly strong and the economy is going through major cyclical changes.
Job Applications
New job applications rose by a seasonally adjusted 4.2 per cent for January.
The breakdown of those positions that are candidate rich (most competitive occupations) to those in high demand (most sought after) again illustrate the importance of qualifications in a competitive market.
January’s top five most sought after employees:
1. Education and training – university lecturers
2. Real estate and property – property managers
3. Construction – estimators
4. Healthcare and medical – nurses and midwives
5. IT – IT architects
January’s top five most competitive occupations:
1. IT – help desk support
2. Administration – receptionists
3. Retail – sales assistants
4. Banking – branch staff
5. Customer service – call centre operators
Source: www.seek.com.au