Competition for job ads at an 'extremely high level'
Applications per job advertisement across New Zealand hit a record high amid decreasing job openings across the country, according to a new report from SEEK NZ.
Its latest Employment Report showed that applications per job ad went up by two per cent month-on-month in April, as the data is recorded with a one-month lag.
"Applications per job ad have peaked again, rising two per cent m/m, making for an extremely high level of competition among candidates for the job ads on offer," the report said.
Most regions recorded a rebound in candidate activity during the month, with major increases recorded in Canterbury (13%) and Otago (7%).
It comes despite a slowdown in job openings across the country, with job ads falling in May by two per cent.
"While the decline in demand for workers has slowed, candidate appetite has not abated in the same way, rising to the highest on record again this month," said Rob Clark, SEEK NZ country manager, in a statement.
The findings come after the latest Westpac-McDermott Miller Employment Confidence Index showed that 50% of households have difficulty accessing job opportunities, with the report citing the "very low level" of vacancies over the past year.
According to the SEEK report, most industries suffered a decline in job ads, including HR and recruitment roles, which saw a nine per cent drop in May.
Among the biggest decreases were in Mining, Resources, and Energy (-16%), Information and Communication Technology (-14%), as well as Advertising, Arts, and Media (-13%).
On the other hand, the biggest increases in job ads for May were recorded in Consulting and Strategy (29%) and Science and Technology (10%) roles.
By region, only Taranaki (6%), Wellington (2%), and Southland (1%) recorded an increase in job ads month-on-month.
According to the report, Wellington is the only one of the larger regions where job ads have grown year-on-year (2%), while also marking its first annual rise in more than two years.
"Wellington, which was particularly impacted by falling demand toward the end of 2023 and the beginning of 2024, has recorded broad growth in ad volumes over the past eleven months," Clark said. "It was one of only three regions where job ads rose month-on-month, along with Southland and Taranaki."
Meanwhile, Marlborough recorded the biggest drop in job ads month-on-month, with a 16% decline in May.
"After jumping 22% in March, the region has experienced a correction over the past two months, dropping 23% throughout April and May," SEEK NZ said.
