The good news on Australia's labour market keeps on rolling in

Photo by David McNew/Newsmakers

Recent Australia Australian labour market data has been nothing short of stellar, and the latest Adzuna Jobs Report is no exception.

According to the group, there were 123,339 jobs advertised on its website in July, up a hefty 11.79% on a year earlier.

As seen in the chart below, job advertisements placed on its website have now been growing at an annual pace of around 10% in each of the past five months, coinciding with the recent surge in employment growth in Australia’s official jobs survey.

Source: Adzuna

As a result of the recent lift in advertising levels, the group said that its job seeker per vacancy ratio — simply measuring the number of unemployed persons to the amount of positions being advertised — fell to 5.89 in July, leaving it at the lowest level this year.

This chart shows the trend in the ratio so far in 2017.

Source: Adzuna

By individual state and territory, the lowest ratio was seen in the ACT at 2.75, followed by the Northern Territory, New South Wales and Victoria at 2.95, 3.95 and 6.58 respectively.

At the other end of the spectrum, South Australia — at 13.82 unemployed persons per advertised position — recorded the unwanted title as the hardest region in Australia to find employment, at least based off the Adzuna data.

Source: Adzuna

This largely reflects trends in economic conditions across the broader Australian economy over the past few years.

But from a holistic perspective, it appears that things are improving. And, in what will be no doubt news to policymakers and workers alike, it appears that stronger labour market conditions are starting to translate through to higher advertised salaries.

Adzuna said that the average advertised salary on its site rose by 2.87% to $90,152 over the past 12 months, with wages growing in each of the past six months.

Source: Adzuna

The high average figure is no doubt influenced by higher paying positions being advertised with the group, along with seasonal patterns in hiring levels.

This table shows the total number of vacancies, along with growth in average salary levels, by individual state and territory based on advertisements placed on its site.

Source: Adzuna

And, from a different perspective, these two final tables show the sectors where the average advertised salary has increased the most over the past 12 months, and which industries in which they’re going backwards.

Here’s the highest.

Source: Adzuna

And the weakest.

Source: Adzuna

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