SEEK NZ Employment Report - Job ads fell in November, but remain higher than pre-pandemic

Rob Clark, SEEK NZ Country Manager says:

“The job market has eased since record-level job ad volumes in May, and the proximity to Christmas has led to job ad numbers dropping nationally month-on-month. Despite the drop, job ad volumes in all regions and most industries remain high in comparison to pre-pandemic.

“The Manufacturing, Transport & Logistics, Healthcare & Medical and Hospitality & Tourism industries are experiencing talent demand significantly higher than 2019 levels, even as we move away from the peak levels of earlier this year.

“Candidate activity is also generally expected to quieten at this time of year, but applications per job ad are picking up as job ads are moderating, with all of the largest industries recording increases month-on-month.”

NATIONAL INSIGHTS

Job ads fell 8% m/m, and for the first time since February 2021 are now slightly lower y/y (-2%). Job ads remain 29% higher than November 2019 nationally.

Administration & Office Support (-12%), Hospitality & Tourism (-10%) and Trades & Services (-7%) were the three industries that drove the overall decline.

Applications per job ad rose for the ninth consecutive month, this time by 4%, due to increases in all of the large hiring industries.

Figure 1: National SEEK job ad percentage change m/m November 2021 to November 2022

Table 2: National and regional job ad growth/decline comparing November 2022 to: i) October 2022 (m/m); ii) November 2021 (y/y) and iii) November 2019.

REGION INSIGHTS

Every region recorded a m/m decline in job ads in November except Gisborne which increased 17%. The largest were in Taranaki (-13%), Manawatu (-12%) and West Coast (-11%).

Job ads in six regions have increased y/y, the greatest of which are Otago (13%), Taranaki (5%) and Canterbury (4%). Job ads in every region remain higher than November 2019 levels.

Applications per job ad increased from the month prior in all but three regions, Manawatu, Tasman and West Coast and grew y/y in all regions but West Coast where there was no change. 

Figure 2: Major region job ad volumes – November 2019 to November 2022

Figure 3: National SEEK job ad percentage change by region (November 2022 vs October 2022).

INDUSTRY INSIGHTS

Only two industries recorded a m/m rise in job ads in November, Insurance & Superannuation (4%) and Mining, Resources & Energy (5%). All other industries fell, with the overall decline driven by Administration & Office Support (-12%), Hospitality & Tourism (-10%) and Trades & Services (-7%).

Job ad volumes remain higher y/y in eleven industries, notably Hospitality & Tourism which is still 57% higher than 2021, with ads for Chefs/ Cooks up 70%, Wait Staff up 37% and Front Office and Guest Services up 89%.

Applications per job ad grew m/m and y/y for the largest industries, including Manufacturing, Transport & Logistics (5% m/m), Trades & Services (5% m/m) and Information & Communication Technology (6% m/m).

Table 3: Examples of role types where applications per job ad increased m/m in October.

Figure 4: National SEEK job ad percentage change by industry (November 2022 vs October 2022) – Ordered by job ad volume

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