SEEK Employment Report November 2022 - Job ads continue to fall, but remain higher than pre-pandemic

Of the November data, Kendra Banks, Managing Director, SEEK ANZ, says:

“November 2021 saw job ads increasing significantly as businesses in Victoria and New South Wales scaled back up after lockdowns and in preparation for a restriction-free summer season. This year, hiring activity is slowing down, which is the trend that we would expect at this time of year. 

“Applications per job ad dropped slightly from the month prior, although web traffic to seek.com.au shows that there is still plenty of interest in what is available.

“Job ads volumes in Hospitality & Tourism have seen a lot of flux this year. After unprecedented demand leading to record-breaking numbers in June, this industry has led the decline over the past two months, indicating that businesses have reduced their hiring activity for summer.

“If the traditional seasonal trends are returning, which is something we haven’t seen for the past two years, then we can expect both employment demand and supply to remain quiet in December and January as businesses and candidates regroup ahead of the new working year.”

NATIONAL INSIGHTS

Job ads declined 4.9% m/m and are 8.2% lower y/y. Volumes remain 40.0% higher than November 2019, however and are comparatively higher in every sector.

Applications per job ad also fell slightly from the month prior, dropping 1.1%, but are 14.4% higher y/y. They remain lower than 2019 levels.

Figure 1: National SEEK job ad percentage change m/m November 2021 to November 2022

Table 1: National, state and territory job ad growth/decline comparing November 2022 to: i) October 2022 (m/m), ii) November 2021 (y/y) and iii) November 2019.

STATE & TERRITORY INSIGHTS

Job ads in all states and the ACT fell m/m, with the Northern Territory rising slightly, by 0.5%. Job ads in all states and territories are now lower y/y apart from Queensland which has recorded no change.

The main driver behind November’s job ad decline in the most populous states of New South Wales, Queensland and Victoria was the Hospitality & Tourism industry. In Western Australia the drop in Manufacturing, Transport & Logistics drove the state’s m/m fall and in South Australia, Sales led the decline.

Applications per job ad increased in Victoria by 2%, driven by decrease in hiring activity for Hospitality & Tourism roles. New South Wales recorded no change in applications per job ad, and all other states and territories fell m/m.

Figure 2: National SEEK Job Ad percentage change by state (November 2022 vs October 2022)

INDUSTRY INSIGHTS

Job ads in Hospitality & Tourism recorded the greatest fall in November, falling 13.5% m/m. There has been significant fluctuation in this industry’s job ad levels throughout the year, including a peak in June, where job ad volumes were 146% higher than ever recorded pre-pandemic.

The only industries to increase in job ads m/m were two of the industries least impacted by external factors, Government & Defence (1.3%) and Insurance & Superannuation (2.6%).

In comparison to last year, four industries have grown in job ad volume, Education & Training (9.2%), Accounting (7.1%), Engineering (4.7%) and Insurance & Superannuation (7.8%).

Applications for per job ad have grown in Hospitality & Tourism (7%), Administration & Office Support (3%) and Community Services & Development (1%).

Figure 3: National SEEK Job Ad percentage change by industry (November 2022 vs October 2022) – Ordered by job ad volume

Click for the latest SEEK Employment Report data or for more employment insights or career advice please visit SEEK’s Hiring Advice or SEEK's Career Advice. 

MEDIA NOTE: When reporting SEEK data, we request that you attribute SEEK as the source and refer to SEEK as an employment marketplace.

About the SEEK Employment Report

The SEEK Employment Report is Australia’s leading employment index and provides a comprehensive overview of the Australian Employment Marketplace. The report includes the SEEK Employment Index (SEI) which measures only new job ads posted within the reported month to provide a clean measure of demand for labour across all classifications.

Note: the SEI may differ to the job ad count on SEEK’s website due to a number of factors including: 1) seasonal adjustments applied to the SEI; 2) the exclusion of duplicated job ads from the SEI; and 3) the exclusion of Company Listings (included under Company Profiles) from the SEI.

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"). The Data is given in summary form and whilst care has been taken in its preparation, SEEK makes no representations whatsoever about its completeness or accuracy. SEEK expressly bears no responsibility or liability for any reliance placed by you on the Data, or from the use of the Data by you. If you have received this message in error, please notify the sender immediately.

About SEEK

SEEK is a diverse group of companies, comprised of a strong portfolio of online employment, educational, commercial and volunteer businesses. 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. In 2022, SEEK was recognised as one of Australia’s Top Ten Places to Work in Tech in the AFR BOSS Best Places to Work awards.

This year, SEEK celebrates 25 years of helping Australians live more fulfilling and productive working lives and helping organisations succeed.