SEEK Employment Report June - Job ads record first decline in 2022, remain above pre-pandemic levels
JUNE 2022 AT A GLANCE:
STATE OF THE NATION:
- Job ads declined 2.1% m/m but remain 52.4% higher than June 2019.
- Applications per job ad decreased 4.6% m/m.
STATE OF THE STATES & TERRITORIES:
- Every state and territory recorded a drop in job ads m/m.
- The states which experienced the greatest m/m fall in job ads were Northern Territory (-4.6%), Tasmania
(-4.1%) and South Australia (-3.9%).
STATE OF THE INDUSTRIES:
- The industries driving the national decline in job ads were Hospitality & Tourism (-8.6%), Manufacturing, Transport & Logistics (-5.3%) and Retail & Consumer Products (-5.8%).
- Trades & Services (+1.2%), Accounting (+4.0%), Design & Architecture (+3.5%) and Insurance & Superannuation (+1.1%) were the only industries to increase in job ads m/m.
STATE OF THE NATION: JOB ADS RECORD FIRST DECLINE IN 2022, BUT REMAIN ABOVE PRE-PANDEMIC LEVELS
According to the latest SEEK employment data, job ads fell 2.1% from May to June, the first decline to be recorded this year. Ad levels remain 23.3% higher year-on-year and 52.4% above June 2019 levels.
Applications per job ad fell for the fifth consecutive month, down 4.6% from the month prior, although as application figures are recorded one month behind job ads, this is to be expected given the 2.1% rise in job ads in May.
Kendra Banks, Managing Director, SEEK ANZ, comments:
“Job ad volumes on seek.com.au fell for the first time this year in June, following five consecutive months of growth.
“It was also the first time since April 2020, when the pandemic first impacted the Australian job market, that all states and territories recorded a drop in job ads within the same month.
“Job ads remain extremely high compared to pre-pandemic levels, so it is too early to speculate whether this month’s drop represents the beginning of a slowdown in the Great Job Boom.”
Figure 1: National SEEK job ad percentage change m/m June 2021 to June 2022
Table 1: National, state and territory job ad growth/decline comparing June 2022 to: i) May 2022 (m/m), ii) June 2021 (y/y) and iii) June 2019.
STATE OF THE STATES AND TERRITORIES: ALL STATES & TERRITORIES DECLINE
Job ads fell in all states and territories m/m, and for most, June was the first drop to be recorded this year.
The greatest decline was in the Northern Territory which fell by 4.6%, followed by a 4.1% drop in Tasmania and a 3.9% decrease in South Australia.
After ten months of rising job ads, Western Australia declined 3.7%, with job ads in four out of the top five largest industries in the state decreasing m/m.
Tasmania was the only state or territory to see an increase in applications per job ad, growing 2.0% from the month prior.
Kendra Banks continues:
“June saw the first drop in job ads for most states and territories this year and it was also the first time since the pandemic began that all states have recorded a simultaneous decline.
“The decrease was driven by the largest industries in most states, such as in Victoria where Hospitality and Tourism roles dropped 10.3% and in New South Wales where job ads in Trades & Services fell 8.3%.
“While Hospitality & Tourism roles can be volatile with upward and downward trends not unusual throughout the year, the drop in Trades & Services roles in NSW is notable and could reflect some of the supply chain and labour challenges facing the industry.”
Figure 2: Major state and territory job ad volumes – June 2020 to June 2022
Figure 3: National SEEK Job Ad percentage change by state (June 2022 vs May 2022)
STATE OF THE INDUSTRIES: GREAT JOB BOOM CONTINUES DESPITE MONTHLY DROP
The only industries to record an increase in job ads in June were Trades & Services (+1.2%), Accounting (+4.0%), Design & Architecture (+3.5%) and Insurance & Superannuation (+1.1%) with all other industries declining m/m. Yet every industry remains ahead compared to the previous quarter.
Roles within the Consumer Services and Industrial sectors recorded the greatest m/m fall, down 4.4% and 4.6% respectively.
For some of the biggest hiring industries, such as Manufacturing, Transport & Logistics, Retail & Consumer Products and Mining, Energy and Resources, June was the first decline experienced this year dropping 5.3%, 5.8% and 1.5% respectively.
Kendra Banks comments:
“With skills shortages locally and overseas, international economic uncertainty and rising operational costs, businesses in all industries are under pressure.
“Despite a month-on-month drop in job ads across many industries in June, job ads remain very high compared to last quarter, last year and pre-pandemic levels.
“Trades & Services roles, our largest industry for job ads on seek.com.au, are now 95.8% higher than June 2019 and roles in Retail and Consumer Products, Tourism & Hospitality and Manufacturing, Transport & Logistics are more than double what they were pre-pandemic.
“We may have seen a small drop in job ads this month, but with demand for talent as high as it is, the Great Job Boom is still on for businesses across the country.”
Figure 4: National SEEK Job Ad percentage change by industry (June 2022 vs May 2022) – Ordered by job ad volume.
MEDIA NOTE: When reporting SEEK data, we request that you attribute SEEK as the source and refer to SEEK as an employment marketplace.