11 May Market Update – March 2022
Australia’s number one employment marketplace SEEK released their March 2022 market insights, presenting interesting data reflective of the current employment market challenges.
SEEK recorded their highest number of job advertisements per month ever posted in the platform’s history.
Job advertisements posted in the month of March 2022 were 50.7% higher than that of March 2019, pre pandemic.
The Trades and Services industry recorded the most growth in advertised positions, with QLD, VIC and NSW leading this growth.
Although this is perhaps not surprising to employers presently undertaking recruitment activities, this data does provide additional insight into the current competitiveness of the employment market, with job advertisements increasing and applications per job decreasing month on month.
What does this mean for employers?
With the job market growing and the number of available skilled workers decreasing, employers can expect challenges in retaining existing workers, sourcing new employees and an increase in remuneration expectations.
Are there any solutions?
Pre-plan your recruitment strategies, understand the current employment market, continue to invest in your employees and in being an employer of choice. These are great ways to prepare your business for attracting and retaining employees.
The consistent message from industry to tackle this skills shortage is through investing in the training, development and upskilling of employees. Investing in future generations will be key for employers and industry to meet the continued demands of the sector.
This is not a short-term solution and comes with it’s own set of challenges. Having a long term approach to training and development coupled with the support of current Government incentives and Wage Subsidies, apprentices and trainees will be a critical contributor to the solution of the industries labour challenges.