Seek says job ads up 26.8% in May

Jobs site Seek reports new job ads posted in May soared compared to April’s lows, as the first signs of an economic thaw begin to show.

After a low in April, companies are looking for workers again, Seek reports. Picture: AAP

Online employment site Seek reports new job ads posted in May soared by 26.8 per cent compared to last month, as the first signs of the economic thaw begin to show.

In an employment snapshot, Seek said the major contributors to the surge were from several sectors. Hospitality and tourism ads ballooned by 101.6 per cent, sales by 97.1 per cent, and administration and office support by 88.5 per cent.

Much of the advertising growth was driven by South Australia, which increased by 36.2 per cent in the fortnight ending May 17, followed by Tasmania which also increased by over a third.

Although the number of new ads had increased by more than 20 per cent, New South Wales lagged considerably behind, potentially reflecting a slower return to normal.

Seek ANZ managing director Kendra Banks said it was important to remember there was still a long way to go.

“As Australia begins its long road to recovery, we are looking at comparing job ad volumes to April. We are using April as a baseline as we hope this is the low point for job ad numbers and we can use this as a comparison for how the employment market is progressing,” Ms Banks said.

“There are some promising signs with all states and territories showing an increase in job ad volumes compared to April, suggesting we have turned a corner as long as we do not see a return of restrictions or a further outbreak.”

Employee confidence in job security was at the highest levels for 2020, reflecting the steadying state of the economy. Almost two thirds were optimistic about their future job prospects, while 67 per cent felt secure, the survey found.

However, that may change in the coming months, with the Morrison Government’s Job Keeper wage subsidy program set to expire in September, placing financial pressure back on businesses.

Other sectors also saw job ads soar in May compared to April. Trades and services, the largest economic contributor, saw ads increased by almost half, while ads for banking and financial services was more steady, increasing by 14.8 per cent.

With stage one of the lockdowns allowing sport, and a staggered reopening of gyms on the horizon, ads for sport and recreation skyrocketed by 317.1 per cent - the largest of any sector.

However, ads for insurance and superannuation jobs plunged by 21 per cent, while mining, resources and energy also fell 5.5 per cent