Employment Trends – October 2022

October 2022

A quick snapshot of the current employment trends:

• Unemployment rate decreased to 3.4% in October 2022
• Participation rate remained at 66.6%.
• SEEK job ads declined 3.7% month-on-month (m/m) but were 44.7% higher compared to October 2019.
• Inflation-adjusted wages have fallen 3.9% over the past year, leaving wages at their lowest level in 11 years

SEEK Employment Report

Kendra Banks, Managing Director, SEEK ANZ, commented: “Between October last year and May this year we experienced record level job ad volumes seven out of eight months, so we can expect year-on-year comparisons to be in deficit for the next few months. When compared to pre-pandemic levels, however, job ads are 44.7% higher than October 2019.”

In the October SEEK Employment Report, SEEK stated that three states recorded a fall in job ads in October 2020: Victoria (-7.6%), New South Wales (-2.7% and South Australia (-0.9%). In Victoria specifically, SEEK also reported that job ad levels were impacted by lower than typical ad volumes on the Monday before Melbourne Cup, which fell, unusually, in October.

Horner’s General Manager, Kylie Heffernan, says: “Data and insights from our other job board partners such as LinkedIn, Indeed, CareerOne are all reflecting similar trends. The decline in job ads in Victoria and New South Wales may be mainly due to the floods amongst other factors. At Horner, we are currently experiencing a high demand for casual staff particularly forklift operators, warehouse workers and event staff as well as requests from organisations recruiting for permanent roles to kick off 2023 with a bang.”

Contact the recruitment specialist team at Horner

If you finding it challenging to find the right staff, contact your local Horner branch or email horner@horner.com.au to see how we can assist you with your temporary or permanent recruitment needs.

Horner Recruitment is one of Australia’s longest-established privately owned consultancies, boasting decades of experience serving our client’s unique recruitment needs. Providing our recruitment services through our nationwide network of offices, including Melbourne CBD, Mulgrave, Tullamarine, Sydney, Perth, Brisbane, and Adelaide we have extensive coverage of all metro and regional areas. From the boardroom to the warehouse and in government, we have you covered. Discover how the right team can help you find the right people. Contact Horner today!

Source: ABS, SEEK and Indeed Hiring Hub