Job Market Up From 2011, but Slows Echoing Seasonal Trend

Press Release – SEEK

The SEEK New Job Ad Index is up 4.7% from this time last year, in new data released today by New Zealand’s largest job site. However, the data also showed that both the SEEK Employment Index (SEI) and the New Job Ad Index dipped in October 2012, …12th November 2012

Job Market Up From 2011, but Slows Echoing Seasonal Trend

• New job ads on SEEK are up 4.7% from October 2011
• SEEK October data shows job market easing, echoing a seasonal trend

The SEEK New Job Ad Index is up 4.7% from this time last year, in new data released today by New Zealand’s largest job site. However, the data also showed that both the SEEK Employment Index (SEI) and the New Job Ad Index dipped in October 2012, echoing a seasonal trend of hiring activity easing as year-end approaches.

Last month, the SEEK New Job Ad Index dropped 2.1% and the SEI fell 2.9%, an indication that the number of new job ads listed on seek.co.nz grew at a slower rate than applications for those roles. Despite the Index dips, the job market is still showing signs of improvement, as Janet Faulding, General Manager SEEK New Zealand, explains;

“We have seen some strong year-on-year gains in the market with the New Job Index up 4.7% and the SEI up 6.6% from this time last year. The decreases in both Indexes seen from September 2012 to October 2012 are typical for this time of year in the lead up to the holiday season. We expect to see this easing offset by significant rises in both job numbers and applications in the New Year, typically a period of increased activity,” Ms Faulding says.

Canterbury stood out in October as the only region in which the SEI rose, with an increase of 8.3%. This signals that the supply of jobs in the region currently outweighs the number of applicants, pointing to favourable conditions for jobseekers looking for work in Canterbury. The industries supporting the rebuilt continue to be propping up the demand for labour.

And while there is evidence the labour market has eased this past month across the rest of New Zealand, it doesn’t mean demand has dropped off completely, as Ms Faulding explains.

“Traditionally the job market does tend to slow down at this time of year, but as jobseekers continue to adopt mobile devices for their job search activity, it will be interesting to see if this dip becomes a thing of the past. Last year, we saw plenty of jobseeker activity throughout the holidays, with close to 50,000 visits a day to seek.co.nz recorded in December 2011.

“The way in which we look for jobs is evolving – at SEEK, we are seeing more and more Kiwis look for, and apply for, jobs from mobile devices, showing that a holiday from work doesn’t always mean a holiday from the job-hunt,” says Ms Faulding.

Fastest growing jobs in the country (in the quarter to October 2012)
1. Plumbers
2. Construction machinery operators
3. Pharmacists
4. Manufacturing managers
5. Civil engineers

About SEEK
SEEK Limited is the leading online employment and training site in New Zealand. SEEK is a media company using the internet as its distribution channel. SEEK (NZ) Ltd was incorporated in September 1999. SEEK (NZ) Ltd manages seek.co.nz, New Zealand’s largest employment website and one of the best known Internet brands. Currently over 15,000 employment vacancies are advertised on seek.co.nz and the site notched up more than 2.7 million visits from jobseekers in September 2012 (Based on Total Market Visits to seek.co.nz (Source: Nielsen Market Intelligence, September 2012) and Visits to m.seek.co.nz (Source: Omniture, September 2012)).

About the SEEK Employment Index
Developed in consultation with Victoria Centre for Strategic Economic Studies at Victoria University, Melbourne, the SEEK Employment Index (SEI) is the first New Zealand aggregate indicator to measure the interaction between labour market supply and labour market demand. Specifically, the SEI represents the relationship between demand for workers and jobseeker activity. When the index increases, it demonstrates a ‘tightening’ employment market; where advertisers find it harder to fill roles (i.e. demand outweighs supply). This is favourable for jobseekers, as job opportunities are greater and competition between applicants is reduced. Inversely, as the index falls, it demonstrates a ‘softening’ employment market (i.e. supply outweighs demand) and advertisers find it easier to fill roles. In this instance, jobseekers need to compete more for available jobs.

ENDS

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