Job ads decrease by 3.1% in October: SEEK

The number of job ads in Australia declined by 3.1% in October to mark the first decrease after three consecutive months, according to the latest Employment Report from SEEK.

"The rate of decline in job ads has slowed over the past year. However, October's three per cent drop indicates that uncertainty in the labour market remains," said Blair Chapman, SEEK senior economist, in a statement.

Job ads went down by 0.1% quarter-on-quarter, while they decreased by 10.7% year-on-year, the report revealed.

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The Australian Capital Territory registered the biggest decline in job ads per location with -7.8%. This is followed by Tasmania (-4.0%) and Victoria (-3.9%).

Only South Australia and Western Australia recorded an increase in job ads in October, with 1.4% and 0.4%, respectively.

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By industry, the biggest drop in job ads in October was recorded in the Retail and Consumer Products industry after decreasing 8.8%.

"The decline in worker demand comes as household spending is growing slowly, indicating subdued consumer activity at this late stage of the year," Chapman said.

The Human Resources and Recruitment industry also saw a decline in job postings, decreasing 4.7% in October, according to the report.

On the other hand, only four industries recorded an increase in job ads, with the Advertising, Arts, and Media logging the biggest hike with five per cent.

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Applications per job ad also down

Meanwhile, applications per job ad also went down for the first time in over two years, according to SEEK.

The report revealed a 0.9% month-on-month drop in applications per job ad for the month of September.

Industries that recorded an increase in applications per job ad include Real Estate and Property (6%), Retail and Consumer Products (4%), as well as Healthcare and Medical (2%).

"After 26 months of steady growth, applications per job ad declined in September, but remain extremely elevated," Chapman said. "So, while the market remains relatively tight, competition among candidates is also very strong."