'The employment market continues to cool,' says monthly report
Job ads in Australia decreased 1.5% month-on-month in June, with all states and territories seeing a decline in job postings, according to SEEK's latest Employment Report.
The Australian Capital Territory registered the biggest monthly decrease in job ads with -5.1%, followed by the Tasmania with -3.9%, and Western Australia with -3.7%.
Annually, job ads are also down 17.1%, with all states and regions also seeing a drop, according to the report.
"The employment market continues to cool, with job ad volumes down 1.5% month-on-month. There was a decline in each state and territory in June," said Leigh Broderick, head of ANZ Market Data and Customer Analytics, in a statement.
Source: SEEK Employment Report - June 2024
The drop in job ads came amid growing applications per job posting in Australia.
In May, applications per job ad went up three per cent month-on-month. They were also 61.6% higher year-on-year.
Meanwhile, most industries in Australia also recorded a monthly drop in job ads in June, according to the report.
The biggest drop was recorded in Hospitality and Tourism (-8.1%), followed by the Advertising, Arts, and the Media (-6.3%).
On the other hand, the Science and Technology industry saw a 14.8% increase in job postings in June, according to the report.
Other industries posting an increase in job ads include the Government and Defence (1.8%); Mining, Resources, and Energy (1.4%); Consulting and Strategy (1.3%); and the Human Resources and Recruitment (1.2%).
Source: SEEK Employment Report - June 2024
Over the past year, Broderick said roles in the legal industry have grown, while those in the Real Estate and Property remained "relatively resilient."
"By contrast, the Information and Communication Technology and Hospitality and Tourism industries, which have faced significant challenges this year, have seen job ad volumes fall by almost a third year-on-year," he added.
