STATE OF THE NATION
February 2020 Employment Report
Melbourne, Feb 21, 2020 AEST (ABN Newswire) - The latest SEEK Ltd (
ASX:SEK) (SLD:FRA) (SKLTY:OTCMKTS) Employment Report shows an overall decline of job ad volume, at -6.5% year on year to January 2020 and -6.4% year on year to December 2019. Whilst year on year volumes are down, SEEK data is showing positive improvements, with month on month job ads up by 1.6% on December 2019.
JANUARY 2020 OVERVIEW
STATE OF THE NATION:
- SEEK job ads are down by 6.5% y/y
- Average advertised salary is up by 1.7% y/y (average national salary of $88,746)
- Industries with the highest job ad growth y/y include: Community Services & Development (15.7%) and Education & Training (6.5%)
- Industries showing salary growth include: Insurance & Superannuation (6.5%), Hospitality & Tourism (4.0%), Banking & Financial Services (3.7%) and Trades & Services (3.7%)
STATE OF THE STATES:
- Job ad volumes are growing in the ACT (9.5%), WA (5.7%) and SA (0.7%)
- Majority of states show an increase in salary with TAS (5.1%), SA (3.8%) and ACT (2.9%) leading the way
DECEMBER 2019 OVERVIEW
STATE OF THE NATION:
- In December, SEEK job ads were down by 6.4% y/y
- Average advertised salary was up 1.7% y/y (average national salary of $88,717)
- Sectors with the highest job ad growth y/y included: Community Services & Development (16.8%), Education & Training (12.5%), Healthcare & Medical (8.0%) and Government & Defence (6.8%)
- Industries showing salary growth included: Insurance & Superannuation (6.1%), Government & Defence (6.1%) and Mining, Resources & Energy (4.9%)
Community Services & Development leads as the industry with the highest job ad growth in January 2020 and December 2019 up 15.7% and 16.8% year on year respectively.
Kendra Banks, Managing Director, SEEK ANZ comments:
"Whilst year on year job ads for January 2020 were down, we are seeing positive month on month growth, pointing to a potential improvement in the job market.
January marked the second consecutive month of positive month on month job ad growth at 1.6%, backing up the 0.2% rise in December. However, after Australia's devastating bushfire season, and the uncertainty surrounding novel coronavirus, we expect short term growth to remain challenging as sectors such as Hospitality and Tourism, Agriculture, Forestry and Fishing, Retail and the Higher Education sector remain exposed.
However, we are continuing to see the Community Services & Development industry make consistent contributions to job ad growth. Since midway through last year, opportunities for job seekers remain available across Aged & Disability Support, Community Development, Management and Child Welfare and Youth & Family Services.
In the states, Western Australia shows higher than average growth in the Community Services & Development industry, up 16% year on year to January 2020. Regions such as Mandurah & Peel, Bunbury & South West, Albany & Great Southern and even further east in Kalgoorlie Goldfields and Esperance are all contributing to job ad growth.
Queensland's Community Services & Development industry is also strong, up 11% year on year to January. Job opportunities can be found across Brisbane to the Sunshine Coast, to Western Queensland and further north in Mackay & Coalfields. These roles are from a wide array of the sector, from Aged & Disability Support, Community Development, Management, Child Welfare, Youth & Family Services, Indigenous & Multicultural Services to Fundraising.
STATE OF THE INDUSTRY: HOUSING & CONSTRUCTION
Kendra Banks continues to comment: "Whilst our 2020 January data shows a further decline in job ads for housing related sectors, such as Construction, Trades & Services, Real Estate and Property, we will watch closely to see if this is the bottom of the downward trend, as we have seen signs of hiring activity stabilising in our data.
This prediction coincides with the Australian Bureau of Statistics latest building approvals, which were up 2.7% year on year to December 2019. There may be further support to underpin residential hiring activity as reconstruction efforts commence in Australia's bushfire affected regions, and communities begin rebuilding over the course of the year.
STATE OF THE NATION: SALARY
The average advertised salary across Australia was up 1.7% compared to last year (y/y to January 2020) at an average of $88,746. Salaries grew across every state and territory, except Northern Territory (down 0.5% y/y to January 2020).
Tasmania leads with a 5.1% growth across the year with an average advertised salary of $79,951, followed by South Australia with 3.8% growth and an average advertised salary of $83,103.
Table 1: Average Advertised Salaries Seasonally Adjusted (January 2020 vs January 2019)
SALARIES SEASONALLY ADJUSTEDJAN 20--------------------- % change avg. $---------------------NSW 1.7% $90,875VIC 1.7% $87,976QLD 2.0% $85,692SA 3.8% $83,103WA 0.3% $90,661TAS 5.1% $79,951NT -0.5% $87,287ACT 2.9% $90,900AUS 1.7% $88,746---------------------
In December, the average advertised salary across Australia was up 2.3% compared to the previous year (y/y to December 2019) at an average of $88,717. Salaries grew across every state and territory, with South Australia coming in at number one in terms of growth, with an average salary of $83,554 (up 6.7%).
Table 2: Average Advertised Salaries Seasonally Adjusted (December 2019 vs December 2018)
SALARIES SEASONALLY ADJUSTEDDEC 19--------------------- % change avg. $---------------------NSW 1.9% $90,587VIC 2.5% $88,283QLD 2.4% $85,601SA 6.7% $83,554WA 1.3% $91,113TAS 4.7% $79,108NT 5.4% $88,843ACT 2.6% $91,709AUS 2.3% $88,717 ---------------------
About the SEEK Employment Report
The SEEK Employment Report provides a comprehensive overview of the Australian Employment Marketplace. The report includes the SEEK Employment Index (SEI), which is the first Australia aggregate indicator to measure the interaction between labour market supply and labour market demand.
It also includes the SEEK New Job Ad Index which measures only new job ads posted within the reported month to provide a clean measure of demand for labour across all classifications.
SEEK's total job ad volume (not disclosed in this report) includes duplicated job advertisements and refreshed job ads. As a result, the SEEK New Job Ad Index does not always match the movement in SEEK's total job ad volume.
Disclaimer: The Data should be viewed and regarded as standalone information and should not be aggregated with any other information whether such information has been previously provided by SEEK Limited, ("SEEK").
To view the SEEK Employment Report, please visit:
https://abnnewswire.net/lnk/YU95JLR4
About SEEK Limited
SEEK Limited (ASX:SEK) (OTCMKTS:SKLTY) is a diverse group of companies, comprised of a strong portfolio of online employment, educational, commercial and volunteer businesses. SEEK operates across 18 countries with exposure to over 2.9 billion people and approximately 26 per cent of GDP. SEEK makes a positive contribution to people's lives on a global scale. SEEK is listed on the Australian Securities Exchange, where it is a top 100 company with a market capitalisation close to A$6billion and has been listed in the Top 20 Most Innovative Companies Globally by Forbes, and Number One in Australia.
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