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Job ad volumes rose 0.1pc in the March quarter, according to Seek’s employment report

Seek has recorded a 2.4 per cent rise in ads in March and the first quarter-on-quarter increase in two years, but the online jobs company says it’s still too early to call it a trend.

Job advertising volumes rose 2.4 per cent in March, the highest monthly increase in two years.
Job advertising volumes rose 2.4 per cent in March, the highest monthly increase in two years.

Job advertising volumes have stabilised and edged higher quarter-on-quarter for the first time since 2022, amid economic uncertainty, but we’re not out of the woods just yet, according to online employment marketplace Seek.

The latest Seek employment report found that job ad volumes rose 0.1 per cent in the March quarter compared to the last three months of 2023.

Job ad volumes rose 2.4 per cent in March – the highest monthly increase in two years – after falling 2.2 per cent in February.

Seek ANZ managing director Kendra Banks said the figures were encouraging, with the report indicating a rise in job ads volumes for three of the last four months.

“Job ad levels rose 2.4 per cent in March and have now increased quarter-on-quarter for the first time in two years,” she said.

“The broad decline we’ve observed in ad volumes since the peak of the mid-2022 jobs boom appears to be stabilising, although it’s early to be calling it a trend.”

Twenty-five sectors recorded a rise in job ads in March, with only three – trades and services, hospitality and tourism and mining, resources and energy – having minor falls.

Ms Banks said ads for roles in the information and communication technology sector recorded strong growth again in March, rising 5.1 per cent.

“Over the past quarter, roles in consumer services have grown the most, with the greatest demand for real estate and property, and retail and consumer products workers,” she said.

SEEK ANZ managing director Kendra Banks.
SEEK ANZ managing director Kendra Banks.

According to the latest Australian Bureau of Statistics data, the seasonally adjusted unemployment rate rose by 0.1 percentage point to 3.8 per cent in March.

This equated to employment falling by around 7000 people and the number of unemployed rising by 21,000 people. The ABS found that seasonally adjusted monthly hours worked rose by 0.9 per cent in the same period.

The Seek report found all states and territories recorded a rise in ad volumes in March with NSW having the largest month-to-month increase in two years, up 2.6 per cent, compared to February. This rise was largely generated by a 7.9 per cent rise in ads for accounting roles.

For only the second time in 12 months ad volumes grew in Victoria, jumping 2.4 per cent from February, boosted by a 9.7 per cent rise in administration and office support roles while the number of job ads in the Hospitality and Tourism sector fell 8.9 per cent.

South Australia had a 2.1 per cent rise in job ads, followed by Western Australia which recorded a 1.9 per cent increase and Queensland was 1.6 per cent up. In the Northern Territory, jobs ads were up 4.2 per cent and the ACT 7.7 per cent.

However, on a 12-month comparison to March 2023, the report found NSW recorded a drop in job ad volumes of 20.5 per cent, Victoria 21.6 per cent and Queensland 8 per cent.

The Seek report found that applications per job ad – which have been growing steadily for the past year – increased 1.7 per cent in March across all states and territories except Tasmania and Western Australia.

Overall, they were 10.4 per cent higher quarter-on-quarter.

Applications per job ad rose in almost all industries, with a 10 per cent jump in healthcare and medical jobs. Accounting, retail and consumer products and education and training all rose 4 per cent or more compared to applications per job ad in February.

Chris Herde
Chris HerdeBusiness reporter

Chris Herde is the editor of The Courier-Mail's commercial property Primesite and is part of The Australian Business Network covering a range of stories.

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Original URL: https://www.theaustralian.com.au/business/economics/job-ad-volumes-rose-01pc-in-the-march-quarter-according-to-seeks-employment-report/news-story/0eb69c7bd491f466ddf264190a1d05b0