March Employment Report - SEEK job ads down by 7.4%

STATE OF THE NATION: JOB ADS

The latest SEEK Employment Report shows an overall decline of job ad volume, at -7.4% year on year to February 2020. 

For the eighth consecutive month, public sector hiring across Community Services & Development and Healthcare and Medical has grown year on year, up 18.7% and 2.1% respectively. SEEK data shows an increase in job ad growth for Banking & Financial services, up 2.0% year on year to February 2020. This is a positive improvement after eight months of flat or declining job advertising. 

Kendra Banks, Managing Director, SEEK ANZ comments: 

“Following two months of improved conditions in job advertising, we are starting to see hiring activity reflect some of the additional challenges in the labour market, namely the devastating bushfire season and coronavirus. 

February data shows job ad growth surging in Community Services & Development, and moderate growth in Healthcare & Medical, which we expect to continue as federal and state governments allocate more resourcing to these sectors. Nurses, aged care support staff, medical specialists and pharmacists are examples of the roles showing growth, which could be linked to future demand from the community due to the uncertainty surrounding coronavirus. 

Other industries are showing further declines in hiring activity. Hospitality and Tourism is in its second month of year on year decline, down -2% in January and -3% in February, with service-related roles such as wait staff largely driving this downward shift.   

The Education & Training sector is also being impacted, with job advertising down -2% year on year to February 2020. Roles in vocational teaching and management are contributing to much of the decline. 

Next month we will have further insight on the impact of coronavirus and its effect on the Australian employment landscape. We expect many industries to be significantly disrupted as this unprecedented scenario continues to unfold.”

STATE OF THE NATION: SALARY 

The average advertised salary across Australia was up 1.9% compared to last year (y/y to February 2020) at an average of $89,238. 

Salaries grew across every state and territory, with Tasmania recording the highest salary growth (3.9%), an average advertised salary of $80,099. This is followed by Northern Territory with 2.9% growth and an average advertised salary of $89,380.

Table 1: Average Advertised Salaries Seasonally Adjusted (February 2020 vs. February 2019)

Figure 1: National SEEK Job Ad growth by state (February 2020 vs February 2019)

Figure 2: National SEEK Job Ad growth by industry (February 2020 vs February 2019)

Download SEEK Employment Data

MEDIA NOTE: When reporting SEEK data, we request that you attribute SEEK as the source.