What’s the current employment outlook?
The second stage of JobKeeper began on 28 September, which means the government’s financial assistance has ended for many businesses across the country. What will this mean for the employment market? Employment is perhaps the most important indicator of the health of the economy. To help explore this, the Internet Vacancy Index (IVI) looks at the number of new online job advertisements on three main job boards: SEEK, CareerOne and Australian JobSearch.
Annual Change in Job Advertising
- In seasonally adjusted terms, the Internet Vacancy Index (IVI)* has decreased by 19.5% over the year to August 2020.
- Recruitment activity for Machinery Operators and Drivers and Labourers now exceeds pre COVID-19 levels.
- Recruitment activity for the remaining occupational groups fell over the year to August 2020.
- Job advertisements increased in Western Australia, South Australia and Tasmania over the year. All remaining states and both territories recorded falls in job advertisements over the year.
- Recruitment activity in South Australia and Western Australia now exceeds pre COVID-19 levels. While in Tasmania recruitment activity stands less than 1% below pre COVID-19 levels.
Monthly Change in Job Advertising
- In seasonally adjusted terms, the Internet Vacancy Index (IVI)* increased by 1.3% in August 2020.
- Over the month, job advertisements increased in three of the eight occupational groups.
- The strongest gains were recorded for Professionals, followed by Clerical and Administrative Workers and Managers.
- All states, except Victoria, and both territories recorded gains in recruitment activity during August 2020
- Recruitment declined in Victoria for the second consecutive month in August 2020 as a result of the ongoing restrictions within the state.