'The rapid advancements in technology have not led to a significant change in the types of skills sought in the Australian job market'
Australia's job market is seeing robust demand across various sectors, but a significant shift towards artificial intelligence (AI) roles is not yet happening, according to new research from Macquarie University.
Despite growing global attention on AI and advanced technologies, data show that more traditional industries, such as construction, retail, and hospitality, continue to dominate the employment landscape in Australia.
Researchers at Macquarie University have been analysing data from LinkUp, a market intelligence company, to track employment trends and job skills in demand.
The data indicate that in 2023, large employers in mining, manufacturing, finance, and early childhood education led the way in hiring, while the anticipated surge in AI-related roles has yet to materialise in Australia.
"There is a widespread belief that people with skills associated with artificial intelligence and other advanced technologies are leading the surge in job opportunities, particularly in consulting and information technology companies, and that these technologies are causing huge amounts of disruption in demand for relatively unskilled roles," said Professor David Orsmond of Macquarie University, in a statement.
"But the data suggest that this shift has not yet happened in Australia."
Only Accenture, a company specialising in data-related services, was among the top 20 employers in both 2022 and 2023, according to the report.
"This could indicate that the rapid advancements in technology have not yet led to a significant change in the types of skills being sought in the Australian job market," Orsmond said.
Traditional sectors remain dominant
The LinkUp database, which contains over 250 million job listings from 195 countries, including three million from Australia, shows that traditional sectors remain the backbone of the workforce.
In 2023, the mining giant Glencore, construction service companies Downer and Compass, and major retailers like Coles and Domino's Pizza were among the top employers.
The financial sector also played a significant role, with banks like Commonwealth Bank of Australia, ANZ, and Macquarie among the largest recruiters.
Associate Professor Mauricio Marrone, from Macquarie University's Department of Actuarial Studies and Business Analytics, highlighted the strong hiring trends in retail and hospitality despite economic challenges.
"The continued strong employment demand in retail and hospitality sectors despite interest rate rises was one of the more surprising findings," he said in a statement.
The report attributed the demand to a broader return of discretionary spending in the post-pandemic period.
"Our analysis of top employers in 2023 shows that discretionary household purchase providers also advertised many jobs, including the hospitality companies Accor Hotels and Marriott, and the retail companies Harvey Norman, Just Group and luxury brands owner EssilorLuxottica," Marrone said.
"This was also despite the large interest rate rises since May 2022, which seems to have continued into 2024 and may indicate that the RBA has more work to do to slow the pace of overall spending and hence inflation pressures."
