Here’s a bullish signal before the release of Australia’s June jobs report later today.
According to jobs website Seek, job advertisements on its platform are soaring, lifting 10.9% in June from a year earlier.
A very punchy increase, and one that bodes well on the outlook for hiring levels in the months ahead.
South Australia, yet again, logged the fastest increase in advertisements of any state and territory over the past year, jumping by 18.7%
Advertisements in Queensland, at 17.9%, also grew strongly over the past 12 months, led by the mining sector.
“The pick-up in advertising across the Sunshine State has been wide-spread with strength in Brisbane (10.9%), Mackay and the Coalfields (88%), Mt Isa and Western Queensland (55.6%) as well as Townsville and Northern Queensland (47.9%),” said Michael Ilczynski, managing director for SEEK Australia and New Zealand.
As the regional figures suggest, labour demand across the mining sector is clearly picking up with advertisements jumping 109% from a year earlier.
The stellar gains recorded in South Australia and Queensland outpaced those in other part of the country, although, with the exception of the ACT, advertisements rose in all other states and territories from a year earlier.
Western Australia, at 13.8%, also put in a strong showing, led by the mining, resources and energy sector where advertisements surged by 71%.
“The upturn of job ads for Queensland and Western Australia, while off a low base, reflects recent improvements in mining conditions and the pick-up in exploration activity by mining companies as they aim to maintain production levels after having to cut back on capital expenditure for a number of years,” Ilczynski said.
Of the other states and territories, advertisements grew by 12.8% in Victoria, 7.4% in Tasmania, 7.1% in New South Wales and 6% in the Northern Territory.
All solid improvements, and a trend that suggests economic conditions, after being led by the eastern states in previous years, are now strengthening across the country.
The ACT, at 1.7%, was the only region to register a decline in advertisements, something that may have been impacted by the timing of the federal election last year.