Late last week, Seek released its Employment Trends report for the last month of 2019 and the first month of the new decade.
It reported an overall decline of job ad volume, down by 6.5 per cent year-on-year to January 2020 and 6.4 per cent year-on-year to December 2019.
While year-on-year volumes are down, Seek data is showing positive improvements, with month-on-month job ads up by 1.6 per cent on December 2019.
However, the report also found that average salary across Australia was up 1.7 per cent compared to last year in January, at an average of $88,746.
Salaries grew across every state and territory, except the Northern Territory (down by 0.5 of a percentage point YOY to January 2020).
“While year-on-year job ads for January 2020 were down, we are seeing positive month-on-month growth, pointing to a potential improvement in the job market,” said Kendra Banks, managing director, Seek ANZ.
“However, after Australia’s devastating bushfire season, and the uncertainty surrounding the novel coronavirus, we expect short-term growth to remain challenging as sectors such as hospitality and tourism, agriculture, forestry and fishing, retail and the higher education sector remain exposed,” Ms Banks said.
Despite the devastating impact the bushfires have had on the country, particularly on towns that rely on tourism for their livelihoods, Seek found that salaries spiked in the hospitality and tourism industry by 4 per cent in January.
However, the industry seeing the most growth was insurance and superannuation, with salaries climbing 6.5 per cent in January. Banking and financial services followed closely with growth of 3.7 per cent.