Yahoo Finance Top industries searching for workers as job ads drop
Job ads have sunk 5.0 per cent in October and 19.9 per cent over the past year.
Job advertisements are dropping around the country, but there are still some industries searching for new workers.
Job ads fell 5.0 per cent in October and 19.9 per cent over the past year, according to the latest SEEK employment report.
A drop-off in hospitality and tourism jobs (down 11.6 per cent) led to the overall monthly decline, with only three industries recording an uptick in job ads in the month.
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SEEK ANZ managing director Kendra Banks said employers may have begun winding up their hiring activity early for the year.
“Despite the proximity to the busy summer season, Hospitality & Tourism recorded the greatest drop in ad volume, likely due to inflation and the rising cost of living putting continued pressure on businesses,” Banks said.
“There is still increasing interest among candidates to find a new role, as applications per job ad rose in almost every industry and in all of the largest states.
"With two months until the end of the year, we would expect both hiring and application activity to slow over the coming months, before picking up again early next year."
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Victoria led the job ad slump (down 6.8 per cent), followed by New South Wales (down 5.1 per cent). The only states to record a rise were Tasmania (up 1.4 per cent) and Western Australia (up 1.0 per cent).
Competition among job seekers has increased. Applications per job ad rose 4.1 per cent and in almost every industry, with levels now 81.1 per cent higher, year on year.
The unemployment rate rose to 3.7 per cent in October. Employment rose by 55,000 during the month and the number of unemployed people increased by 28,000.
Industries looking for workers
Only three of 28 industries recorded an increase in job ad volumes in October: legal (up 2.0 per cent), consulting (up 1.9 per cent) and farming, animals and conservation (up 1.3 per cent).
But, despite months of job ad decline, SEEK found many of the largest hiring industries still had historically high job ad volumes.
The top 5 industries experiencing the biggest job ad growth from October 2019 to October 2023 were:
Trades and services - up 50.4 per cent
Health care and medical - up 39.6 per cent
Manufacturing, transport and logistics - up 55.1 per cent
Hospitality and tourism - up 18 per cent
Education and training - up 71.8 per cent
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