Declining job adverts and a spike in applicants is the grim reality job seekers face in 2025.
Australians might find it harder to get a new job with a major employment platform warning of tough macroeconomic conditions.
Seek released its full-year financial results on Tuesday, showing job listings in Australia have fallen.
According to the job listing platform, role volumes fell 11 per cent in Australia. At the same time, candidate visits continued to rise as well as applications per ad as more Australians apply for these roles.
Seek chief executive and managing director Ian Narev warned of tougher times ahead for job seekers.
Australians might be finding it harder to get a job in the near term. Picture: NewsWire / John Appleyard
In the near term, while labour market conditions across APAC (Asia-Pacific) are showing signs of stabilisation, our planning assumption is for employment growth to remain flat to low through FY2026, Mr Narev said.
In Australia, we expect unemployment to grow slightly, though a further easing of interest rates should gradually lead to labour market improvements.
Over the longer term, Seek forecasts further cuts from the Reserve Bank of Australia, which over time, will benefit the labour market.
Australia is not alone with Seek also pointing to weak jobs and volumes stabilising across Asia as ongoing economic uncertainty weighs on near term hiring activity.
Despite the fall in jobs posted, revenues were up 1 per cent to $1.1bn on the back of higher prices for job listings.
Reported profits came in at $238.3m up from a prior corresponding period where the business lost $59.9m.
Seek's Australian and New Zealand revenue came in 1 per cent higher on the back of a 13 per cent increase in prices.
Job ads fell but profits rose for Seek. Picture: NewsWire / John Appleyard
The business will pay out a 22 cent per share fully franked dividend, taking year dividends to 46 cents, which is 31 per cent increase compared to the prior reporting period.
The second half of the financial year saw half-on-half revenue growth for the first time in over two years, despite a decline in market volumes. This was due to yield growth, which in turn was supported by new products, Mr Narev said.
Seek's results follow last week's announcement that Australia's unemployment rate improved in July as thousands of people found full-time work.
Figures released by the Australian Bureau of Statistics show the unemployment rate fell to 4.2 per cent in July, from 4.3 per cent.
The fall in unemployment came as 24,500 people found work over the last month.
This was largely in line with expectations of 25,000 new roles being created.
Growth in employment was driven by full-time employment, which was up by 60,000 people, with a 36,000 person fall in part-time employment partly offsetting this rise.
The number of female full-time workers grew by 40,000 while male full-time workers rose by 20,000.
https://www.news.com.au/finance/markets/australian-markets/fewer-roles-for-more-applicants-seek-results-grim-update-for-workers/news-story/12c9f8b61807395bb75b31da1c797965
