Australia’s labour market continues to go from strength to strength, and if the latest job ads data from Seek is anything to go by, that trend looks set to continue in the months ahead.
According to the group, total advertisements placed on its site jumped by 13.2% in August compared to a year earlier, leaving them at the highest level since 2010.
“These positive trends in advertising on Seek point to an improving labour market and suggests that positive economic momentum, evident in the June quarter GDP report, is continuing into the second half of the year,” said Michael Ilczynski, managing director for Seek Australia and New Zealand.
As seen in the chart above supplied by Seek, ads for mining, resources and energy workers continued to outperform all other categories, growing by a rapid 72% from a year earlier.
“The pick-up of exploration activities by mining companies, especially in Western Australia after cutbacks over the past few years, is driving job advertising growth on SEEK across the [sector],” said Ilczynski.
Reflecting improved demand for mining-sector workers, Seek found that advertisements in the Northern Territory, Queensland and Western Australia — Australia’s mining states and territories — all recorded stronger growth than the national average over the past year, lifting 23.7%, 20.3% and 14.8% respectively.
Tasmania, at 33.8%, recorded the largest percentage increase in advertisements of any state and territory over the year, outpacing solid gains of 19.5% and 15.5% respectively in South Australia and Victoria.
Total advertisements in New South Wales — Australia’s largest labour market — grew by 7.4% over the year while those in the ACT rose by a smaller 3.6%.
The continued strength in Seek’s job ads series bodes well on the outlook for labour market hiring, hinting that the strength seen over the past six months will likely continue in the latter parts of 2017.
According to ABS’ most recent Australian labour market report, employment surged by 54,200 in August to 12.269 million, leaving it at the highest level on record.
That took total employment growth since the start of March to 250,800, the largest six-month increase since July 2000. At 11, the run of consecutive monthly employment increases is also the longest seen in over six years.
In the minutes of its September monetary policy meeting, pre-dating the release of the August jobs report, the Reserve Bank of Australia said that “employment growth had been broadly based across the states”, adding that “solid growth in employment was expected to continue.”