Job ads rose for fourth straight month, but applications per ad hit historic highs. What this means for job seekers.
What’s happening: Job advertisements rose 0.8% in August, marking the fourth consecutive month of growth, driven largely by Hospitality & Tourism roles in Victoria and New South Wales. However, applications per job advertisement increased 0.7% to the highest level in SEEK’s history, indicating intense competition for available positions.
Why this matters: The job market is showing resilience with sustained growth in advertisements, but job seekers face unprecedented competition as applications per role reach historic highs. The surge in Hospitality & Tourism roles suggests businesses are preparing confidently for the busy summer period.
Australia’s job market delivered a mixed message in August, with employment opportunities growing for the fourth consecutive month while competition for roles reached unprecedented levels.
According to SEEK’s latest Employment Report, job advertisements rose 0.8% month-on-month in August, continuing the positive trajectory that began in May. However, the data reveals a more complex picture for job seekers, with applications per job advertisement increasing 0.7% to push volumes to the highest level in SEEK’s history.
SEEK Senior Economist Dr Blair Chapman said August’s performance exceeded typical seasonal patterns. “August is traditionally the month where job ads peak in Australia, as businesses get into the swing of the new financial year and ramp up hiring activity. But as SEEK adjusts for these seasonal shifts, this 0.8% rise marks an even larger rise than usual.”
Fourth straight rise
The sustained growth in job advertisements represents the most consistent hiring momentum since the post-pandemic recovery. Much of August’s strength was concentrated in specific sectors and states, with Hospitality & Tourism roles leading the charge.
“We also start to see more businesses step up their seasonal hiring activity at this time, ahead of the busy Christmas and summer period. This appears to be the case in Victoria and New South Wales, with Hospitality & Tourism ad volumes jumping notably in August,” Dr Chapman explained.
The Trades & Services sector has been another standout performer, with demand steadily rising since April. This represents the longest period of growth for the industry since early 2022, suggesting sustained momentum in construction and related activities.
Record competition
While the growth in job opportunities appears positive, the flip side reveals intense competition among job seekers. Applications per job advertisement reached the highest level in SEEK’s history, indicating that despite more roles becoming available, individual job seekers face greater competition than ever before.
This trend reflects the broader labour market dynamics described in the SEEK report, where Dr Chapman notes that “the unemployment rate remains low by historical standards.” The combination of steady job creation and high application volumes suggests a labour market where opportunities exist but are highly contested.
Hospitality hotspot
The standout performance of Hospitality & Tourism in Victoria and New South Wales reflects broader economic patterns as these states prepare for the summer tourist season. The sector’s strong showing contrasts with its struggles during the pandemic years and suggests business confidence in consumer spending patterns.
The geographic concentration in Victoria and New South Wales also highlights the uneven nature of Australia’s economic recovery, with major population centres driving much of the employment growth.
Salary recovery
Complementing the employment data, SEEK’s Advertised Salary Index showed signs of recovery from recent weakness. Advertised salary growth rose 0.3% month-on-month in August, representing the fastest monthly growth since April.
Annual advertised salary growth ticked up slightly to 3.4% year-on-year, recovering from what SEEK described as a four-year low in July. However, the trajectory remains well below peak levels reached in 2023.
“Employment continues to grow, and the unemployment rate remains low by historical standards. As a result, we continue to see solid growth in advertised salaries, which in August rose to 3.4% year-ended with monthly growth at a reasonably fast 0.3%,” Dr Chapman said.
“That said, annual advertised salary growth continues to trend down, dropping 1.4 percentage points on its September 2023 peak. Employment is now growing at a much more typical pace of around 2% annually, compared to the 3% and above recorded in 2023.”
The salary data suggests the labour market is finding a new equilibrium, with wage growth moderating from the elevated levels seen during the immediate post-pandemic period while remaining above long-term historical averages.
The combination of steady job growth, record application levels, and moderating but solid salary increases paints a picture of a labour market that is competitive but resilient, offering opportunities for those able to stand out in an increasingly crowded field of applicants.
