New employment data shows 'broadly stable' demand
Job ads for human resources and recruitment roles rose slightly in September amid a challenging labour market in Australia, according to the latest data from SEEK.
Its Employment Report for the month of September showed a 0.7% monthly increase in job ads for HR and recruitment roles, in line with the overall 0.8% monthly increase in job postings.
September's data reveals Australia's demand for workers is broadly stable, with job ads rising 0.8%. The annual job ad decline has slowed to 1.1%, the slowest since November 2022, said Blair Chapman, SEEK Senior Economist, in a statement.
However, as the recent rise in the unemployment rate and the slowdown in employment growth indicates, the labour market remains challenging.
The industries with the biggest monthly increase in job ads include Retail and Consumer Products (2.4%), with the report attributing it to retailers ramping up hiring ahead of the holiday period.
A number of industries are demonstrating growth, notably within the larger hirers such as Trades & Services and Manufacturing, Transport & Logistics, Chapman added.
However, some areas within the Professional Services sector remain under pressure.
The Insurance and Superannuation industry recorded a 2.9% monthly drop in job ads, the highest in Australia. Banking and Financial Services also declined by 1.5%, its fifth consecutive monthly decrease.
Job ads by industry
By location, the SEEK report found that all states and territories registered an increase in job ads, with New South Wales and Victoria seeing the highest growth at 1.1%.
The increase in New South Wales was due to hiring growth in Trades and Services (2.1%), as well as Retail and Consumer Products (3.8%).
Victoria's job ads growth was attributed to an increase in demand for employees in Education and Training (3.4%) and Hospitality and Tourism (3.1%).
Annually, most states and territories saw a decline in overall job ads, with only South Australia (3.9%) and Western Australia (0.4%) reporting increases.
Applications per job ad
Meanwhile, there was a 0.6% month-on-month increase recorded in applications per job ad in August, which is recorded with a one-month lag.
With applications per job ad also rising 0.6% in August, we're seeing increased candidate engagement alongside growing demand, highlighting that the market remains tough for job seekers, Chapman said.
https://www.hcamag.com/au/specialisation/recruitment/hr-recruitment-job-ads-up-slightly-in-september-seek/553640
