Yahoo Finance Jobs in the property sector have plummeted with house prices
House prices began to slide in late 2017 – and it’s no surprise that jobs in this sector have taken a hit.
Job ads for the design and architecture sector fell by more than a quarter (26.4 per cent) in the 12 months leading up to March this year, according to Seek’s latest employment report.
Similarly, job ads in the real estate and property industry dropped by a fifth (20.5 per cent).
Construction also fell by 19.8 per cent.
“Our data has helped us to identify that regional areas outside of the greater capital cities appear to be less susceptible to the downturn in the housing market, which in the larger cities impacts sectors such as construction and trades,” said SEEK ANZ managing director Kendra Banks.
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Meanwhile, recruitment had picked up over the last year for public servants and defence personnel, with the government and defence sector experiencing 16.8 per cent growth since March 2018.
The healthcare and medical industry came in second with 6.4 per cent growth, followed by education and training (5.8 per cent) and community services and development (4.4 per cent).
Bird’s eye view
Compared to a year ago, Australia is seeing less job opportunities open up – and pay packets haven't fattened up much either.
According to Seek’s latest employment report, job ads on the site saw a 4.7 per cent decline in March while the average advertised salary rose by 2.6 per cent when compared to March 2018.
This is consistent with the ABS’ latest seasonally adjusted figures on unemployment, which inched up by 0.1 per cent to reach 5 per cent, as well as the 3 per cent drop in job website Adzuna’s Job Vacancy Index.
But it’s not all bad news, indicated Banks.
“Although year on year job ad growth declined this month, job ads continue to be at a relatively high level and the softening we are seeing in growth is mirrored by softening in GDP growth numbers,” Banks said.
By state
All of Australia’s states and territories saw drops in job ad growth, bar a number of notable exceptions.
Tasmania in particular saw an eyebrow-raising 15.5 per cent growth in job ads compared to 12 months ago, while Western Australia saw a modest 2.7 per cent growth.
“In our larger labour force states, such as Victoria and NSW there is a continued job ad decline (3.1 per cent and 9 per cent respectively), with NSW declining since the beginning of the first quarter in 2019.
“Part of the decline in NSW may reflect a more cautious approach by businesses leading up to the recent state election.”
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