OZ Job Situation - Stats/Media Release
Sep 15th 2005, 2:48 am
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OZ Job Situation - Stats/Media Release
We had this issued to us yesterday, some may (or may not 
) find it interesting:
Steve
Seek Employment Index August 2005
SEEK MEDIA RELEASE
14 September 2005
Surge in Job Ads and Applications indicates
Strengthening Economic Growth
Australia’s employment market experienced strong growth in August according to the SEEK Employment Index released today, providing new evidence that growth in the Australian economy is beginning to accelerate. The number of new job ads posted in August surged by 10.5% (seasonally adjusted) to be 44.3% higher than in August 2004. But this rapid growth in the demand for labour continues to be matched by an increase in the supply of labour, reflected by the rising number of job applicants. Job applications jumped by 13.5% (seasonally adjusted) in August 2005, 42.8% higher than in August 2004, suggesting that inflationary pressures remain contained.
In August, the SEEK Applications per Ad Indicator rose by 4.3% on the back of a 2.4% increase in July 05. In the year to August 05, there were strong gains in Queensland (13.8%) and NSW (6.4%), indicating that competition for jobs in those states has increased. Highlighting an underlying skills shortage, Western Australia experienced the greatest decline in the number of applications per job with a decrease of 10.3% since August 04.
Looking at data across the past 12 months, there has been a marked geographical shift in the distribution of new job ads, with NSW’s national share decreasing from 45.3% in August 04 to 41.8% in August 05. Most of NSW’s decline has shifted to Queensland, whose share has increased from 15.7% in August 04 to 18.1% in August 05.
Developed in consultation with Victoria University’s Centre for Strategic Economic Studies (CSES), the SEEK Employment Index (SEEK EI) is the first Australian aggregate indicator to directly compare labour market supply with labour market demand.
SEEK CEO Paul Bassat said that the index for August shows demand and supply in the labour market are both growing strongly. "The ABS reported last week that employment growth in August was the strongest it has been in Australia in the past decade and this is supported by our data. There has been strong growth in the number of new job ads in all States and territories, but we have also seen the strongest monthly rise on record in the number of job applications received per ad since we started recording in October 2001.
"The SEEK Applications per Ad indicator rose by 4.3% in August, indicating that employers in most states should have found it somewhat easier to fill vacant positions in August than in July", he said.
Professor Peter Sheehan, Director of the Centre for Strategic Economic Studies, said that there have been differing views about whether the economy was slowing, or whether growth would pick up in response to rising terms of trade, the recent tax cuts and continuing easy access to credit.
"The SEEK Employment indicators provide strong evidence that the economy is strengthening. The possibility that a pick-up in growth will lead to higher interest rates will be tempered by the strong growth in the supply of labour. Stronger job demand is giving rise to increased supply, and this will help the economy to continue growing without undue inflationary pressures.
"Well over one million applications for jobs were made through SEEK in August 2005 and the ease of online job application may be one factor leading to the increased responsiveness of supply to growth in job vacancies", Professor Peter Sheehan said.
To view the whole Seek Employment Index report for August 05 click here.
About the SEEK Employment Index
Developed in consultation with Victoria University’s Centre of Strategic Economic Studies, the SEEK Employment Index is the first Australian aggregate indicator to directly compare labour market supply and with labour market demand. Published monthly, the Index and its supporting indicators are based on the actual number of new job ads and new job applications posted through the SEEK website. www.seek.com.au currently hosts about two thirds of all online ads, equating to approximately 60% of all Internet and newspaper job ads in Australia. In any given month, over 100,000 job advertisements are posted on the SEEK website and approximately 1.4 million jobseekers lodge over 1 million job applications.
The SEEK Employment Index will serve to complement other well-established employment market indicators, such as the ANZ Job Ad Series and ABS Job Vacancy statistics and will in time provide industry specific data.
) find it interesting:Steve
Seek Employment Index August 2005
SEEK MEDIA RELEASE
14 September 2005
Surge in Job Ads and Applications indicates
Strengthening Economic Growth
Australia’s employment market experienced strong growth in August according to the SEEK Employment Index released today, providing new evidence that growth in the Australian economy is beginning to accelerate. The number of new job ads posted in August surged by 10.5% (seasonally adjusted) to be 44.3% higher than in August 2004. But this rapid growth in the demand for labour continues to be matched by an increase in the supply of labour, reflected by the rising number of job applicants. Job applications jumped by 13.5% (seasonally adjusted) in August 2005, 42.8% higher than in August 2004, suggesting that inflationary pressures remain contained.
In August, the SEEK Applications per Ad Indicator rose by 4.3% on the back of a 2.4% increase in July 05. In the year to August 05, there were strong gains in Queensland (13.8%) and NSW (6.4%), indicating that competition for jobs in those states has increased. Highlighting an underlying skills shortage, Western Australia experienced the greatest decline in the number of applications per job with a decrease of 10.3% since August 04.
Looking at data across the past 12 months, there has been a marked geographical shift in the distribution of new job ads, with NSW’s national share decreasing from 45.3% in August 04 to 41.8% in August 05. Most of NSW’s decline has shifted to Queensland, whose share has increased from 15.7% in August 04 to 18.1% in August 05.
Developed in consultation with Victoria University’s Centre for Strategic Economic Studies (CSES), the SEEK Employment Index (SEEK EI) is the first Australian aggregate indicator to directly compare labour market supply with labour market demand.
SEEK CEO Paul Bassat said that the index for August shows demand and supply in the labour market are both growing strongly. "The ABS reported last week that employment growth in August was the strongest it has been in Australia in the past decade and this is supported by our data. There has been strong growth in the number of new job ads in all States and territories, but we have also seen the strongest monthly rise on record in the number of job applications received per ad since we started recording in October 2001.
"The SEEK Applications per Ad indicator rose by 4.3% in August, indicating that employers in most states should have found it somewhat easier to fill vacant positions in August than in July", he said.
Professor Peter Sheehan, Director of the Centre for Strategic Economic Studies, said that there have been differing views about whether the economy was slowing, or whether growth would pick up in response to rising terms of trade, the recent tax cuts and continuing easy access to credit.
"The SEEK Employment indicators provide strong evidence that the economy is strengthening. The possibility that a pick-up in growth will lead to higher interest rates will be tempered by the strong growth in the supply of labour. Stronger job demand is giving rise to increased supply, and this will help the economy to continue growing without undue inflationary pressures.
"Well over one million applications for jobs were made through SEEK in August 2005 and the ease of online job application may be one factor leading to the increased responsiveness of supply to growth in job vacancies", Professor Peter Sheehan said.
To view the whole Seek Employment Index report for August 05 click here.
About the SEEK Employment Index
Developed in consultation with Victoria University’s Centre of Strategic Economic Studies, the SEEK Employment Index is the first Australian aggregate indicator to directly compare labour market supply and with labour market demand. Published monthly, the Index and its supporting indicators are based on the actual number of new job ads and new job applications posted through the SEEK website. www.seek.com.au currently hosts about two thirds of all online ads, equating to approximately 60% of all Internet and newspaper job ads in Australia. In any given month, over 100,000 job advertisements are posted on the SEEK website and approximately 1.4 million jobseekers lodge over 1 million job applications.
The SEEK Employment Index will serve to complement other well-established employment market indicators, such as the ANZ Job Ad Series and ABS Job Vacancy statistics and will in time provide industry specific data.
