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SEEK Employment Index

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2010 Media Releases

• 05.03.10 NEW JOB ADS CONTINUE TO GROW IN FEBRUARY
• 05.02.10 SOLID START FOR JOB MARKET IN 2010—NEW JOB ADS UP 7.1%
• 11.01.10 NEW JOB ADS RISE CAPS OFF 2009 REBOUND

NEW JOB ADS CONTINUE TO GROW IN FEBRUARY

The recovery of the Australian job market continues with new job ads rising nationally by a seasonally adjusted 2.4 per cent in February (figure 1).

New ads have risen by 36.2 per cent since their trough in June 2009, with more than half of this increase occurring since November 2009.

Unlike other Australian job indices, the SEI measures the flow of new jobs for the month, rather than stock of jobs at a point in time, and as such is the leading economic indicator of job activity in the country.

Figure 1. SEEK New Job Ads Index (Average 2002-04 = 100), seasonally adjusted

The rebound in labour market conditions continues to be distributed across all regions, with the states that had been lagging the recovery in the second half of 2009 (Queensland and South Australia) improving in February.

Western Australia continues to be the strongest performer, with new job ads in the state growing 21.9 per cent in the three months to February 2010. Job ads rose by 16.4 per cent in South Australia; 15.8 per cent in Queensland; 15.6 per cent in Victoria ; and 14.6 per cent in NSW for the same period.

SEEK Employment Managing Director Joe Powell said the sustained growth in job ads nationally was a positive sign of improving employment conditions in 2010.

“The SEEK Employment Index has highlighted a continuing recovery in the job market for several months,” said Mr Powell. “Looking at the trend in new job ads and the growing number of applicants, people seem to be comfortable reviewing their options again and are actively seeking new job opportunities. If this continues, the job market will become more favourable for job seekers in 2010.”

“This rings true with our last employee satisfaction & motivation study in September 2009, which showed almost 5 in 10 employees thinking about moving in the next 6 months as economic conditions improve.”

The SEEK Employment Index

After three months of strong increases, the SEEK Employment Index (SEI), a dynamic snapshot of the match between the supply of jobseekers (applications) and the demand for workers (job ads) on SEEK, increased by a relatively small 0.3 per cent in February due to the increasing growth in applications
(figure 2.).

Results were steady across states with relatively small changes to the index. New South Wales (1 per cent), Queensland (1.1 per cent), South Australia (1.7 per cent) and Western Australia (0.3 per cent) enjoyed a moderate improvement.  Victoria recorded no change in the index. This trend means that it’s continuing to become easier for jobseekers to find jobs and harder for employers to find candidates.

Figure 2.  SEEK Employment Index (Average 2002-04 = 100), seasonally adjusted

Job Advertisements by State
New job ads placed with SEEK rose by a seasonally adjusted 2.4 per cent for February. New job ads increased in New South Wales (3.3 per cent), Victoria (1.8 per cent), Queensland (3.5 per cent), South Australia (0.7 per cent) and Western Australia (2.9 per cent).*

* State and national estimates are adjusted separately and the latter is not the average of the former,particularly in times when seasonal effects are   particularly strong and the economy is going through major cyclical changes.

Job Applications

New job applications rose by a seasonally adjusted 2.1 per cent for February.

The breakdown of those positions that are candidate rich (most competitive occupations) to those in high demand (most sought after) again illustrate the importance of qualifications in a competitive market.

February’s top five most sought after employees:

1. Legal – senior associate solicitor
2. Insurance & Superannuation – broking
3. Construction – architecture
4. Real Estate – valuation
5. Healthcare & Media – nurses/midwives

February’s top five most competitive occupations:

1. Manufacturing/Operations – packer/filler
2. Call Centre/Customer Service – call centre operator
3. Hospitality & Tourism – kitchen hand
4. Retail – sales assistant
5. Trades & Services – cleaning

A greater breakdown on all of these positions, including average salary, level of job satisfaction, pay parity and much more, can be found online at paycheck.seek.com.au – Australia’s largest survey on jobs.

For further information or to arrange an interview with Joe Powell or VUT’s George Messinis, please contact:

Michael Davey
SEEK Employment
0400 888 120

Jane Crowe
Haystac
0413 011 743

About SEEK
SEEK enjoys a formidable lead over its nearest competitors in Australia & New Zealand in terms of both job ad and jobseeker numbers.In Australia, seek.com.au hosts approximately 60 per cent of all jobs on Australia's major job sites. In a given month, over 100,000 job advertisements are posted on seek.com.au with 3.97m million unique browsers* visiting the site. In New Zealand, approximately 10,000 job ads are now posted on seek.co.nz, significantly more than that of its nearest competitors. In Australia, SEEK also has the SEEK Learning business which connects people with education and training to advance their career and SEEK Commercial, where people can find businesses and franchises for sale. *Nielsen NetRatings Feb 10

About SEEK Intelligence
As Australia and New Zealand's leading employment website, SEEK has excellent insight into these labour markets. SEEK regularly researches employment trends and jobseeker sentiment and conducts quantitative and qualitative research of these audiences. SEEK Intelligence is the reporting of these results and includes such reports as:

• The SEEK Employment Index
• The SEEK Survey of Employee Satisfaction & Motivation

Details can be found online at http://www.seek.com.au/investor/research.ascx

About the SEEK Employment Index
Developed in consultation with Victoria University's Centre of Strategic Economic Studies, the SEEK Employment Index (SEEK EI)is the first Australian aggregate indicator to measure the interaction between labour market supply and labour market demand.  Specifically, the SEEK EI represents the relationship between demand for workers and jobseeker activity. When the Index increases, it demonstrates a 'tightening' employment market; where advertisers find it harder to fill roles (i.e.: demand outweighs supply). This is favourable for jobseekers, as job opportunities are greater and competition between applicants is reduced. Inversely, as the Index falls, it demonstrates a 'softening' employment market (i.e.: supply outweighs demand) and advertisers find it easier to fill roles. In this instance, jobseekers need to compete for the available jobs.

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SOLID START FOR JOB MARKET IN 2010—NEW JOB ADS UP 7.1%

THE SEEK EMPLOYMENT INDEX (SEI), a dynamic snapshot of the match between the supply of jobseekers (applications) and the demand for workers (job ads)on seek.com.au, firmed by 2.9 per cent for January.

Most notably, new job ads rose by a seasonally adjusted 7.1 per cent.

New ads have now risen by 31.8 per cent since their trough in June 2009 and suggest that the labour market is following a pronounced U-shape pattern—the sharp fall in ads after the December 2007 peak now being followed by a positive looking trend.

SEEK New Job Ads Index (Average 2002-04 = 100), seasonally adjusted

Unlike other Australian job indices, the SEI measures the flow of new jobs for the month, rather than stock of jobs at a point in time, and as such is the leading economic indicator of job activity in the country.

While the persistent rebound in labour market conditions is being felt in all states and territories, the speed of the labour market recovery across the mainland states varies. Western Australia is setting the pace, with New South Wales and Victoria also performing strongly. Although having turned a corner, Queensland and to a lesser extent South Australia, are lagging by comparison. New job ads in Western Australia have grown an astonishing 50 per cent between June 2009 and January 2010, while in Queensland the increase has only been about 20 per cent.

SEEK Employment Managing Director Joe Powell said the start to 2010 was reassuring, with the sustained improvement a strong sign that job growth may have turned the corner.

“The steady recovery of the labour market now seems to be showing a clear trend in the right direction,” said Mr Powell. “Looking at the trend in new job ads, it would appear that unemployment has peaked below the higher figures widely anticipated and a recovery could be forming.”

The SEEK Employment Index

The SEI increased by a seasonally adjusted 2.9 per cent in January.

New South Wales (7.3 per cent) and Western Australia (4.9 per cent) significantly contributed to the increase in the index, while the job market in Victoria (3 per cent), South Australia (2.2 per cent) and Queensland (2 per cent) enjoyed a moderate improvement. This trend means that it’s becoming gradually easier for jobseekers to find jobs and harder for employers to find candidates.

Job Advertisements

New job ads placed with SEEK rose by a seasonally adjusted 7.1 per cent for January.

New job ads increased in all states and territories. January’s improvement was lead by New South Wales (10.5 per cent) and South Australia (10.4 per cent). Western Australia (8.7 per cent), Queensland (7.8 per cent) and Victoria (7.1 per cent) recorded solid increases.*

* State and national estimates are adjusted separately and the latter is not the average of the former, especially in times when seasonal effects are particularly strong and the economy is going through major cyclical changes.

New job applications rose by a seasonally adjusted 4.2 per cent for January.

The breakdown of those positions that are candidate rich (most competitive occupations) to those in high demand (most sought after) again illustrate the importance of qualifications in a competitive market.

January’s top five most sought after employees:

January’s top five most competitive occupations:

A greater breakdown on all of these positions, including average salary, level of job satisfaction, pay parity and much more, can be found online at paycheck.seek.com.au – Australia’s largest survey on jobs.

For further information or to arrange an interview with Joe Powell or VUT’s George Messinis, please contact:

About SEEK

SEEK enjoys a formidable lead over its nearest competitors in Australia & New Zealand in terms of both job ad and jobseeker numbers. In Australia, seek.com.au hosts approximately 60 per cent of all jobs on Australia's major job sites. In a given month, over 100,000 job advertisements are posted on seek.com.au with 3.89m million unique browsers* visiting the site. In New Zealand, approximately 10,000 job ads are now posted on seek.co.nz, significantly more than that of its nearest competitors. In Australia, SEEK also has the SEEK Learning business which connects people with education and training to advance their career and SEEK Commercial, where people can find businesses and franchises for sale. *Nielsen NetRatings Jan 10

About SEEK Intelligence
As Australia and New Zealand's leading employment website, SEEK has excellent insight into these labour markets. SEEK regularly researches employment trends and jobseeker sentiment and conducts quantitative and qualitative research of these audiences. SEEK Intelligence is the reporting of these results and includes such reports as:

• The SEEK Employment Index
• The SEEK Survey of Employee Satisfaction & Motivation

Details can be found online at

http://www.seek.com.au/investor/research.ascx

Developed in consultation with Victoria University's Centre of Strategic Economic Studies, the SEEK Employment Index (SEEK EI)is the first Australian aggregate indicator to measure the interaction between labour market supply and labour market demand. Specifically, the SEEK EI represents the relationship between demand for workers and jobseeker activity. When the Index increases, it demonstrates a 'tightening' employment market; where advertisers find it harder to fill roles (i.e.: demand outweighs supply). This is favourable for jobseekers, as job opportunities are greater and competition between applicants is reduced. Inversely, as the Index falls, it demonstrates a 'softening' employment market (i.e.: supply outweighs demand) and advertisers find it easier to fill roles. In this instance, jobseekers need to compete for the available jobs.

back to index

NEW JOB ADS RISE CAPS OFF 2009 REBOUND

THE SEEK EMPLOYMENT INDEX (SEI), a dynamic snapshot of the match between the supply of jobseekers (applications) and the demand for workers (job ads) on seek.com.au, firmed by 1.7 per cent for December.

New job ads rose by a seasonally adjusted 3.5 per cent, while applications fell by 1.2 per cent.

Overall new job ads were down 14.6 per cent for 2009. However, it was very much a tale of two halves—the first experienced significant losses, and the second witnessing a significant pick-up, with the trend now heading very much in the right direction.

SEEK New Job Ads Index (Average 2002-04 = 100), seasonally adjusted

SEEK Employment Managing Director Joe Powell said second half of 2009 was encouraging, with new job ads currently 21.3 per cent higher than in June 2009, the low point in the current cycle.

“The pace of the economic recovery—particularly its impact on the labour market—remains uncertain,” said Mr Powell.

“But looking at the trend in new job ads, one can be hopeful that unemployment has started to peak in this cycle at 5.8 per cent, rather than the higher figures widely anticipated earlier in 2009.”

Mr Powell also suggested the SEI will remain an important tool in understanding the nature of the recovery.

“As the SEI is the only index that measures the supply and demand aspects of the labour market, it will provide a unique and valuable guide to the pace of this improvement during 2010.”

The SEEK Employment Index

The SEI increased by a seasonally adjusted 1.7 per cent in December.

Western Australia (8.1 per cent) and South Australia (4.6 per cent) significantly contributed to the increase in the index, while the job market in Victoria (2.1 per cent), New South Wales and Queensland (both 0.8 per cent) enjoyed a moderate improvement.

Job Advertisements

New job ads placed with SEEK rose by 3.5 per cent for December.

New job ads increased in all states and territories. December’s improvement was lead by Western Australia who recorded an 11.2 per cent increase.

South Australia (4.9 per cent), Victoria (4.7 per cent) and New South Wales (3.6 per cent) recorded solid increases, while Queensland experienced a moderate increase of 1.6 per cent.

New job applications rose by a seasonally adjusted 2.5 per cent for December—consistent with a stagnation over the past six months. This metric is important as an indicator on how hard, or easy it is for employers to find new employees. For jobseekers conversely it also shows if its getting easier to secure a role, or harder.

However, a number of positions remain fiercely competitive.

This is a unique indicator in the market and in due course, can highlight the increase in skills shortages in Australia and New Zealand.

December’s top five most sought after employees:

2009’s top five most sought after employees:

December’s top five most competitive occupations:

2009’s top five most competitive occupations:

A greater breakdown on all of these positions, including average salary, level of job satisfaction, pay parity and much more, can be found online at paycheck.seek.com.au – Australia’s largest survey on jobs.

For further information or to arrange an interview, please contact:

About SEEK

SEEK enjoys a formidable lead over its nearest competitors in Australia & New Zealand in terms of both job ad and jobseeker numbers. In Australia, seek.com.au hosts approximately 60 per cent of all jobs on Australia's major job sites. In a given month, over 100,000 job advertisements are posted on seek.com.au with 3.8 million unique browsers* visiting the site. In New Zealand, approximately 10,000 job ads are now posted on seek.co.nz, significantly more than that of its nearest competitors. In Australia, SEEK also has the SEEK Learning business which connects people with education and training to advance their career and SEEK Commercial, where people can find businesses and franchises for sale. *Nielsen NetRatings Oct 09

About SEEK Intelligence
As Australia and New Zealand's leading employment website, SEEK has excellent insight into these labour markets. SEEK regularly researches employment trends and jobseeker sentiment and conducts quantitative and qualitative research of these audiences. SEEK Intelligence is the reporting of these results and includes such reports as:

• The SEEK Employment Index
• The SEEK Survey of Employee Satisfaction & Motivation

Details can be found online at

http://www.seek.com.au/investor/research.ascx

Developed in consultation with Victoria University's Centre of Strategic Economic Studies, the SEEK Employment Index (SEEK EI)is the first Australian aggregate indicator to measure the interaction between labour market supply and labour market demand. Specifically, the SEEK EI represents the relationship between demand for workers and jobseeker activity. When the Index increases, it demonstrates a 'tightening' employment market; where advertisers find it harder to fill roles (i.e.: demand outweighs supply). This is favourable for jobseekers, as job opportunities are greater and competition between applicants is reduced. Inversely, as the Index falls, it demonstrates a 'softening' employment market (i.e.: supply outweighs demand) and advertisers find it easier to fill roles. In this instance, jobseekers need to compete for the available jobs.

back to index