{"id":2666,"date":"2023-11-22T03:00:18","date_gmt":"2023-11-22T03:00:18","guid":{"rendered":"https:\/\/horner-au.ap.applyflow.com\/uncategorized\/employment-trends-october-2023\/"},"modified":"2024-11-21T01:21:41","modified_gmt":"2024-11-21T01:21:41","slug":"employment-trends-october-2023","status":"publish","type":"post","link":"https:\/\/www.horner.com.au\/employment-trends-october-2023\/","title":{"rendered":"Employment Trends &#8211; October 2023"},"content":{"rendered":"<h2><strong>Employment Market Overview<\/strong><\/h2>\n<p>Snapshot of the latest employment trends for\u00a0October 2023:<\/p>\n<ul>\n<li>Unemployment rate remained at 3.7%<\/li>\n<li>Participation rate decreased to 66.8%<\/li>\n<li><a title=\"SEEK\" href=\"https:\/\/www.seek.com.au\/about\/news\/employment-report-october-23\" target=\"_blank\" rel=\"noreferrer noopener\">SEEK<\/a> National job ads month-on-month (m\/m) have declined 5.0%<\/li>\n<li>Job ad volumes on SEEK are 16.6% higher than October 2019<\/li>\n<li>Applications per job ad rose 4.1% month-on-month on SEEK<\/li>\n<\/ul>\n<p>Job ad volumes on SEEK are now 19.9% lower year-on-year (y\/y) but are still 16.6% higher compared to October 2019. The decline was a result of job ad numbers falling in Victoria and New South Wales.<\/p>\n<p>After slowing the month prior, growth in applications per job ad picked up again in September 2023, rising 4.1%, and in almost every industry. Levels are now 81.1% higher y\/y.<\/p>\n<p>Of the October data, Kendra Banks, Managing Director, SEEK ANZ,\u00a0says:<\/p>\n<p>&#8220;<span lang=\"EN-US\">Job ads fell 5.0% in October, indicating that perhaps employers have begun winding up their hiring activity early for the year.\u00a0<\/span><span lang=\"EN-US\">Despite the proximity to the busy summer season, Hospitality &amp; Tourism recorded the greatest drop in ad volume, likely due to inflation and the rising cost of living putting continued pressure on businesses.\u00a0<\/span><span lang=\"EN-US\">There is still increasing interest among candidates to find a new role, as applications per job ad rose in almost every industry and in all of the largest states.\u00a0<\/span><span lang=\"EN-US\">With two months until the end of the year we would expect both hiring and application activity to slow over the coming months, before picking up again early next year.\u00a0<\/span>In the lead up to Christmas, it is an ideal time to snap up top talent with job ads on the decline and applications increasing.&#8221;<\/p>\n<h3><strong>Employment Trends &#8211; State &amp; Territory Insight<\/strong><\/h3>\n<div>According to SEEK:<\/div>\n<ul>\n<li>Applications per job ad rose in all states aside from Tasmania, and in the two territories.<\/li>\n<li>Victoria led the decline in job ads, falling 6.8% month-on-month (m\/m), followed by New South Wales, which fell 5.1%<\/li>\n<li>The sharp decline was mainly due to an 8.2% drop in Melbourne metro jobs, particularly in the Construction and Industrial sectors, compared to the rest of the state where job ads fell 2.8%.<\/li>\n<li>The states to record a rise in job ads in October were Tasmania (1.4%) and Western Australia (1.0%).<\/li>\n<\/ul>\n<h3><strong>Recruiting now?<\/strong><\/h3>\n<p>As a leading job agency, Horner recruits nationally across a diverse range of industries for roles from entry level to <a href=\"https:\/\/www.horner.com.au\/recruitment\/executive-management\/\">executive<\/a>.<\/p>\n<p>To see how we can assist you with your <a href=\"https:\/\/www.horner.com.au\/recruitment\/temporary-staffing-solutions\/\">temporary<\/a> or <a href=\"https:\/\/www.horner.com.au\/recruitment\/permanent-recruitment-solutions\/\">permanent<\/a> recruitment needs, <a title=\"Contact page\" href=\"https:\/\/www.horner.com.au\/contact\/\" target=\"_blank\" rel=\"noreferrer noopener\">contact your local branch<\/a> or call 1300 119 580 or email <a title=\"horner@horner.com.au\" href=\"mailto:horner@horner.com.au\">horner@horner.com.au<\/a>, or simply submit your enquiry online &gt;<\/p>\n<p><a title=\"enquiry form\" href=\"https:\/\/www.horner.com.au\/enquiry-form\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.horner.com.au\/enquiry-form\/<\/a><\/p>\n<p><span style=\"font-size: 12px;\">Source: ABS,\u00a0SEEK, LinkedIn and\u00a0Indeed Hiring Hub<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Employment Market Overview Snapshot of the latest employment trends for\u00a0October 2023: Unemployment rate remained at 3.7% Participation rate decreased to 66.8% SEEK National job ads month-on-month (m\/m) have declined 5.0% Job ad volumes on SEEK are 16.6% higher than October 2019 Applications per job ad rose 4.1% month-on-month on SEEK Job ad volumes on SEEK&hellip;<\/p>\n","protected":false},"author":4,"featured_media":3450,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","footnotes":""},"categories":[22],"tags":[],"class_list":["post-2666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-clients"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.horner.com.au\/af-api\/wp\/v2\/posts\/2666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.horner.com.au\/af-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.horner.com.au\/af-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.horner.com.au\/af-api\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.horner.com.au\/af-api\/wp\/v2\/comments?post=2666"}],"version-history":[{"count":0,"href":"https:\/\/www.horner.com.au\/af-api\/wp\/v2\/posts\/2666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.horner.com.au\/af-api\/wp\/v2\/media\/3450"}],"wp:attachment":[{"href":"https:\/\/www.horner.com.au\/af-api\/wp\/v2\/media?parent=2666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.horner.com.au\/af-api\/wp\/v2\/categories?post=2666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.horner.com.au\/af-api\/wp\/v2\/tags?post=2666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}