'The labour market remains challenging as ad volumes continue to decline,' says expert
Job ads in New Zealand fell by one per cent in October, according to the latest Employment Report from SEEK NZ, as applications per job posting registered a rebound in September.
The report also revealed a three per cent quarter-on-quarter decline, and a 26% year-on-year drop in job ads.
"The labour market remains challenging as ad volumes continue to decline and the unemployment rate is still climbing," said Rob Clark, SEEK NZ country manager, in a statement. "While trending downward, the recent declines in job ads have been smaller compared to the preceding 12 months."
Source: SEEK NZ Employment Report - October
Regional, industry data on job ads
Marlborough reported the biggest drop in job ads by region with -12%, followed by Gisborne with a nine per cent decline, according to the report.
Auckland and Canterbury, major regions in New Zealand, also registered a two per cent and four per cent drop, respectively, to lead the national decline.
"Some regions, including Wellington and Waikato, saw job ads rise in October, which is positive given the many months where the larger regions declined," Clark said.
Source: SEEK NZ Employment Report - October
By industry, the biggest drops in job ads for October were logged in the Insurance and Superannuation industry (-26%), as well as the Advertising, Arts, and Media (-24%).
The Human Resources and Recruitment industry also registered a six per cent decline in ad volumes in October, according to the report.
Source: SEEK NZ Employment Report - October
Applications per job ad rebounds
Meanwhile, applications per job ad rebounded in September after dropping two per cent in August, the report revealed.
The data, which is recorded with a one-month lag, revealed that there was a one per cent increase in applications per job ad in September. The hike was recorded in Southland (7%), Hawkes Bay (6%), and Auckland (4%), among other regions.
Annually, all industries aside from Farming, Animals, and Conservation have recorded an increase. The biggest gainers were:
- Retail & Consumer Products (108%)
- Communication Services & Development (96%)
- Call Centre & Customer Service (87%)
- Insurance & Superannuation (85%)