A Snapshot of Australia’s Job Market in May 2024
A Snapshot of Australia’s Job Market in May 2024
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Nationally, online job ads show signs of plateauing. There was a small increase (0.2%) in May compared to April, but a significant decrease (15.4%) compared to May 2023. This suggests the job market is finding a new normal after the initial post-pandemic surge.
However, job opportunities remain plentiful. Despite the annual decline, advertisement levels are still higher than pre-pandemic times.
Regional variations exist. Recruitment activity dropped in most regions, with the steepest declines in the Australian Capital Territory and New South Wales. Tasmania saw the only notable increase.
Demand for specific skill sets persists. Job advertisements for occupations requiring a Certificate III or IV qualification (Skill Level 3) saw the biggest rise (2.9%). Sales workers and technicians/trades workers also experienced significant growth in job ads.
Metropolitan areas still dominate job postings. While job ads decreased more in capital cities compared to regional areas year-on-year, over 70% of advertisements remain concentrated in major cities.
The Air Transport industry faces unique challenges. Job ads for Air Transport Professionals have skyrocketed 307% in five years, driven by pilot and instructor demand. However, despite the high number of postings, employment growth in this sector has slowed recently. International competition and skill shortages, particularly for pilots, continue to pose challenges for employers.
Detailed Data:
The report provides a breakdown of job advertisement trends by state, occupation, and education level. Here are some key takeaways:
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All states saw annual declines in job ads, but Victoria experienced the smallest decrease.
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Management positions saw a slight monthly increase in ads, while professional roles saw a slight decline.
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Sales worker job ads grew the most compared to April, while educational qualifications like Bachelor degrees saw a small monthly decrease in postings.
Jobs and Skills Australia’s May 2024 report suggests a stabilising job market. While advertisement numbers are down from their peak, they remain strong overall. Specific industries, like Air Transport, continue to grapple with high demand and recruitment difficulties due to global competition and skill shortages.
Resources: Jobs & Skills Australia
Date Published: June 12,2024