Job ads declined slightly in November, but advertised salary growth accelerated to its fastest pace since June.
What’s Happening: Job advertisements declined 0.5% month on month in November, with the annual decline slowing to 1.9%, according to SEEK’s latest Employment Report.
Why This Matters: Small businesses navigating the Christmas slowdown face a split hiring landscape. Whilst overall job ads declined, industrial and construction sectors showed pockets of strength, particularly in South Australia.
Australia’s job market closed November with modest declines in job advertisements, but beneath the headline figures lies a more complex picture that small business owners should understand as they plan for the year ahead.
Job ads declined 0.5% month on month in November, marking the latest in a series of incremental drops since August, according to SEEK’s Employment Report for November 2025. The annual decline slowed to 1.9%, suggesting the market may be stabilising rather than entering freefall.
Dr Blair Chapman, SEEK Senior Economist, characterised 2025 as a year of two distinct halves.
“This year has been a tale of two halves – the first six months demonstrated small but important growth after many months of decline, and then, since August, we have seen incremental drops month on month,” Dr Chapman said.
The decline wasn’t uniform across industries. Manufacturing, Transport and Logistics posted a 0.5% monthly increase, whilst Engineering rose 1.1%. However, Retail and Consumer Products fell 3.8%, and Trades and Services dropped 1.2%.
“There was increased activity in the Industrial and Construction sectors, along with pockets of growth in Healthcare & Medical and Retail & Consumer Products. These industries in particular have cooled in recent months, contributing to an overall slowdown as we head into summer,” Dr Chapman said.
South Australia bucks trend
Whilst most of the country saw job ads cool, South Australia emerged as a standout performer, continuing to defy the national trend with both monthly and annual growth in job ads.
“The standout in November is South Australia, which continues to defy the national trend with both monthly and annual growth in job ads. This points to strong underlying demand in the state, particularly for workers in the industrial and construction sectors,” Dr Chapman said.
The pattern mirrors recent small business hiring trends that show regional variations in labour demand can create opportunities for SMEs willing to adapt their recruitment strategies.
Salary growth accelerates unexpectedly
In a surprise development, advertised salary growth rose 0.4% month on month in November, the fastest monthly increase since June 2024. Annual salary growth accelerated to 3.8% year on year, up from the 3.3% to 3.7% range seen in recent months.
Dr Chapman attributed the acceleration to a shift in which sectors are driving employment growth.
“Although overall employment growth is slowing, a shift from the public sector to the private sector as the key driver of job growth could explain the faster wage rises. This is because private sector firms are more likely to use individual contracts and have greater ability to offer higher salaries than the public sector,” Dr Chapman said.
He noted an intriguing parallel with public sector agreements.
“That said, the Australian Public Service Commission’s enterprise bargaining agreement specified an annual salary increase of 3.8% for 2025, the annual rate of advertised salary growth that we are currently seeing,” Dr Chapman said.
The acceleration comes at a challenging time for many small businesses. Earlier this year, wage growth pressures intensified as compliance costs and statutory obligations pushed up the total cost of employment beyond base wages alone.
Industrial sectors drive demand
Applications per job ad remained unchanged month on month, marking the fourth month of relative stability. However, the elevated levels mean the market remains highly competitive for candidates.
“Applications per job ad, which have also stabilised since mid year, continue to be elevated, so the market remains very competitive for candidates as job ads slow for the Christmas break,” Dr Chapman said.
For small business owners, the data suggests a nuanced approach to hiring may be needed heading into 2026. Whilst overall demand is cooling, specific sectors and regions show resilience. The faster salary growth indicates private sector firms are prepared to pay more to secure talent, potentially squeezing smaller employers who lack the same wage flexibility.
The stabilisation of applications per job ad, whilst maintaining elevated levels, suggests jobseekers remain actively engaged despite the slowdown. This creates both opportunity and challenge for SMEs competing with larger firms that can offer higher salaries and comprehensive benefits to attract top candidates.
As the summer break approaches and businesses prepare for 2026, understanding these regional and sectoral variations will be crucial for small businesses planning their workforce strategies in an increasingly competitive talent market.
