Despite reaching another record high, the October Olivier Internet Job Index is sending mixed messages about the economy, based on a fall in NSW jobs.
The Index hit 195.44 in October with 182,457 jobs counted in the
month.
That was a 1.41% increase in seasonally adjusted terms.
For the first time since April the actual number of jobs advertised on the net has gone down, falling 3,258.
In raw figure terms in 15 sectors (out of 21) there were less jobs advertised last month
than the month before. Accounting, Administration, and IT are all weak.
Seasonally adjusted, 7 sectors have fallen in October.
"It's still a phenomenal job market with a count of 182,457 jobs on the boards, but it
could be a market on the turn. We saw the first signs last month, but this is more
pronounced," says Robert Olivier, a Director of the Olivier Group.
"Simply put there are less ads, and so it's just a little harder to find a job.
"It hasn't fallen steeply, but there may be a bit of angst setting in,
"The oil price rises have had a knock-on effect on consumer confidence.
"But October is a vulnerable period in the annual job cycle," says Robert Olivier.
NSW, which has the greatest share of the national job market at 40.54%, was
substantially responsible for the fall, with jobs in that state dropping by 5.2% in the
month. All occupational sectors fell in NSW.
Accounting was the worst hit sector, falling 2.59% nationally (on a seasonally adjusted
basis) and there were 10.0% fewer job advertisements counted in NSW in the month.
Trades & Services and Sales & Marketing job ads now dominate the Australian job
market, with each having 14%. Accounting and IT&T are equal second on 10%.
The Advertising & Media and Arts & Entertainment sectors although small also
registered significant job ad losses (SA) during the month. "This could be a reflection
on slightly tighter consumer expenditure and could be a worrying development for
retailers before Christmas," says Robert Olivier.
