Internet-based job ads have hit their lowest figure in a year, dropping 19.1% in one month.
The ANZ Bank, which records newspaper-based employment ads and those featured on six employment websites, notes that the number of online jobs dropped to 12,622. This figure is lower than any monthly total since July 2000.
The online job fall accompanies a further softening of newspaper-based job ads by 3.0% during October, with the national seasonally adjusted ANZ Job Ads series declining for the third consecutive month. Overall, advertising levels are still historically high, ANZ says, tracking well above the numbers recorded at any time between mid 1996 and late 1999, “reflecting the fact that the labour market remains tight”. However, ANZ says the easing of the job ads series to a level 4.4% below a year ago suggests that “the steam may be coming out of the job market”. Main centre advertising levels in particular have eased, the bank says, with this series falling 4.5% in the last month.
Meanwhile, the number of Australian jobs advertised on the internet fell 14% in one month, the single biggest monthly decline since Sydney-based Olivier Recruitment Group started counting, in December 1999. The company says there are now 12% fewer online jobs than when the Olivier Internet Job Index started counting in December 1999.
The index recorded falls in 19 out of the 21 sectors surveyed. IT jobs fell by more than a quarter in November alone, and multimedia jobs fell 27.2%.
In a statement, director Robert Olivier pulled no punches. "Now the election is over, it is clear the job market in Australia is shot to pieces, " he says.