The latest data from SEEK Employment trends shows job ads rose by a huge 16.1% compared to the same time last year.
Of the 29 industries on SEEK, 28 experienced year-on-year growth, suggesting that employers are looking beyond the holiday season and into the new year.
“Advertising on SEEK is booming,” says Michael Ilczynski, Managing Director for SEEK Australia and New Zealand.
“This October we saw the largest rate of annual job ad growth so far this year.”
Trends across the industries
Advertising, arts and media was the only industry to record a year-on-year decline in opportunities in October. Ads were down by 8% year-on-year and the average advertised salary was $77,436.
For the second consecutive month, the trades and services industry offered the most job opportunities across the country on SEEK and the average advertised salary was $64,696. This was followed by information and communications technology, which recorded an average advertised salary of $104,359. Healthcare and medical followed and the average advertised salary was $87,632. The manufacturing, transport and logistics industry was also among the highest sources of job opportunities on SEEK in October and the average advertised salary was $70,963.
Ilczynski notes that positive signs also continued for the mining, resources and energy industry in October. “In terms of growth, while off a low base, it recorded the largest annual growth of all industries on SEEK for the tenth month in a row, up 59 per cent year-on-year,” he says. The average advertised salary for the industry was $114,032.
Real estate on the rise
The real estate and property industry also experienced a lift with job ads rising 5% year-on-year from August to October. Residential leasing and property management was the greatest source of job opportunities, followed by residential sales administration. The average advertised salary for the industry for the three-month period was up by 5.4% year-on-year to $74,835.
Ilczynski says the eastern seaboard states of New South Wales and Victoria offered the most job opportunities for real estate and property professionals between August to October, which mirrors where demand is greatest for property.
“Over the three years to October 2017, we’ve seen dwelling prices rise more than 20 per cent across Sydney and Melbourne,” he says. “However, the property market has started to cool due to financial regulators clamping down on investment lending, plus there has been a number of additional taxes imposed by state governments on foreign buyers, and signs of greater restrictions on outbound Chinese investment in offshore property buying.”
Strength across Australia
The positive news for October was spread right across the country with advertising growth recorded across all states and territories.
Australia’s largest labour markets of New South Wales and Victoria recorded a year-on-year increase of 12.4% and 18% respectively. “ICT was the top advertising industry in both states, followed by trades and services,” says Ilczynski.
Although coming off a low base, South Australia recorded the largest annual growth of all states and territories, up 24.5% year-on-year. Ilczynski notes that trades and services offered the most job opportunities across the state, with job ads for the industry up by a solid 62% year-on-year.
The labour market in Western Australian has been showing signs of recovery in recent months and October delivered more positive results with job ads in the state rising by an impressive 19.2% year-on-year. “Trades and services and mining, resources and energy offered the most job opportunities across the state,” adds Ilczynski.
The sunshine state also continued its steady recovery with opportunities in Queensland up by 18.9% year-on-year. Tasmania saw a lift of 14.9% compared to the same time last year and our two territories also enjoyed growth. In the Northern Territory, job ads rose by 21.2 per cent which ACT saw a lift of 12.7% compared to the same time last year.
Job ads were booming on SEEK in October with growth reaching right across the country. As the year draws to a close, what’s in store for the months ahead? We’ll be watching how the market moves.