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SEEK’s sept job market report highlights mixed trends

In the backdrop of the report, September 2023 saw a 1.8% month-on-month decrease in national job advertisements when compared to August 2023.

This shift in the job market was even more pronounced when examined on a year-on-year scale, with a substantial 18.5% reduction in job ads compared to September 2022.

Applications per job ad: A glimmer of hope

While the job ad numbers dipped, there was a glimmer of hope in the form of a 0.7% month-on-month increase in applications per job ad. This uptick signals a modest resurgence in job seekers’ activity, indicating a growing pool of candidates eager to secure employment opportunities.

State-by-State job market dynamics

A closer look at the job market on a state level revealed intriguing variations. Western Australia (WA) saw a 2.2% decrease in job ads compared to the previous month, reflecting regional fluctuations. Simultaneously, the Northern Territory (NT) experienced a 2.7% decline in September 2023 compared to August 2023. However, the Australian Capital Territory (ACT) stood out with a positive change, recording a 1.1% increase in job ads.

Year-on-Year comparisons: A challenging landscape

Year-on-year comparisons painted a challenging picture, highlighting the ongoing impact of economic shifts and global events. In this regard, New South Wales (NSW) grappled with a substantial 22.2% decrease, while Queensland (QLD) faced a 13.8% drop. Victoria (VIC) experienced the most significant decline, recording a substantial 25.5% reduction in job ads compared to the previous year.

Top 10 Industries by job ad volume: Mixed fortunes

The report also cast a spotlight on various industries. The “Trades & Services” sector faced an 11.9% decrease in job ads compared to August 2023. Conversely, the “Hospitality & Tourism” industry encountered a substantial challenge, grappling with a daunting 38.8% reduction in job ads year-on-year.

Industry Insights – Healthcare & Medical: Resilience Amidst Challenges

Despite the overall downward trend, the “Healthcare & Medical” sector exhibited remarkable resilience. It saw only a marginal 0.4% decline in job ads compared to the previous month, showcasing the sector’s enduring demand for skilled professionals. However, it was not without its challenges, as the sector also contended with a 6.0% drop in job ads year-on-year.

Kendra Banks, SEEK Managing Director ANZ said: “Job ads fell by 1.8% in September, continuing the trend of incremental decline that has been recorded for most of the year.  While job ads have been moderating since the 2022 peak, volumes are still 17.1% higher than September 2019. Apart from job ads in Science & Technology, which increased by 3.5%, all other industries declined in volume month-on-month, the most notable Engineering, which dropped 8%.

“The rise in applications per job ad slowed month-on-month, increasing just 0.7% in September, with Retail & Consumer Products showing the greatest increase in applications per ad volumes.”

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