By: Michael Crooks
While the rest of the world still suffers the economic ravages of the pandemic, in Australia, job vacancies are on the up.
New data reveals that the advertising of jobs across the nation has increased by 75 per cent since March last year, when COVID-19 had just begun its debilitating spread throughout the world.
The report, compiled by employment marketplace company Seek, reveals that new job ads have increased 10 per cent month-on-month since March last year.
“We’ve seen the highest number of job ads posted on Seek in a month than at any time in our more than 23-year history,” Seek managing director Kendra Banks said, of job ads posted on the site last month.
“The change is nothing short of remarkable,” – Seek managing director Kendra Banks
“It’s fantastic to see so many jobs available. There are factors that are driving these strong numbers, including [that] many of the jobs are for roles that were displaced in the last year.”
Further, the amount of applications per job dropped, reflecting the flood of opportunities, among other factors.
“The current applications per ad are at the lowest levels they have been since 2012,” Ms Banks said.
“The change is nothing short of remarkable.”
It’s indicative of a growing economy. As published in The Sydney Morning Herald, the minutes of the Reserve Bank of Australia’s April meeting reveal that the RBA believes the economy is recovering well from the pandemic.
In fact, in the three months to December last year, the economy grew 3.1 per cent, reports the Australian Bureau of Statistics.
The reason for the resurgence was that Australia’s economy was not as hard hit as most other nations, according to a Deloitte report. And with COVID numbers low, state borders opening and vaccines rolling out, “that leaves us really well-placed,” said Deloitte senior economist Harry Murphy-Cruise.
“But the bad news is that the damage still remains deep, and that Australia still has a substantial repair task on its hands.”
Back to work
Even so, Australia’s unemployment rate dropped to 5.8 per cent in March, lower than the rates in US and Germany. And some experts have speculated it could dip below 5 per cent by June.
Australia’s unemployment rate dropped to 5.8 per cent in March, lower than the rates in US and Germany.
Meanwhile, the job opportunities keep coming. The job ad surge is seen most prominently in NSW, Victoria and Queensland. But all states and territories are performing strongly.
“In March, South Australia, Tasmania and the Northern Territory all recorded the highest level of ad listings ever observed in their states,” Ms Banks said.
“The ACT, Queensland and Victoria are close to their highest ever levels, whereas Western Australia’s job ad volumes are nearly equalling that of the 2012 mining boom.”
Most industries have seen monthly growth in job opportunities, with hospitality and tourism leading the charge in Australia.
“We’ve seen strong growth across some key industries, with hospitality and tourism having a notably strong start to the year,” Ms Banks said.
The reason for that particular industry surge is due to the easing of restrictions, discounted flights and accommodation.
Job booms are also taking place within the industries of trades and services and healthcare and medical.
“What a difference a year makes,” said Ms Banks.
“What a difference a year makes,” – Seek managing director Kendra Banks
Article supplied with thanks to Hope Media.