Applications per job ad surge to record high as more Australians take second jobs amid rising living costs.
The Australian job market is experiencing a perfect storm. While job advertisements continue their modest decline for the second consecutive month, dropping 0.7% in June, competition among job seekers has reached unprecedented levels according to SEEK Employment Report.
Applications per job ad have surged to a record high, climbing 2.1% monthly and an eye-watering 16.4% compared to last year. This surge surpasses even the 2020 peak when job ads hit rock bottom during the pandemic’s early days.
Record breaking competition
Dr Blair Chapman, SEEK’s Senior Economist, points to a telling trend: more Australians are taking second jobs or jumping back into the workforce as living costs bite harder. This expanded candidate pool is creating fierce competition for every available role.
The numbers tell the story clearly. What was already a challenging job market has become even more competitive, with job seekers now facing the highest level of competition on record.
Not all sectors are struggling equally. Construction emerges as the lone bright spot, posting 1.8% growth while other industries contract. Within construction, specific areas are driving this growth: general construction jobs jumped 3.8%, engineering roles climbed 2.0%, and trades and services increased 1.6%.
Meanwhile, the tech sector continues its downward spiral. Information and Communication Technology roles plummeted 3.5% monthly and 10.5% yearly, hitting levels below even COVID-19 lows.
Regional reality check
Geography matters in this job market. The Northern Territory bucked national trends with robust 3.7% growth, while the Australian Capital Territory suffered the steepest decline at 7.8%. Government and defence roles in the ACT dropped 11.7%, with healthcare and medical positions falling 11.3%.
The eastern seaboard tells a consistent story of decline: Victoria down 0.8%, New South Wales dropping 0.4%, and Queensland slipping 0.3%. Even regional areas, despite slight growth, can’t offset the broader metropolitan decline of 1.1%.
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