September marked the eighth consecutive month of diminishing job advertisements, with New South Wales recording the sharpest drop.
Jobs website adzuna.com.au tracked the number of job advertisements over the past year, recording a decline of 15% nationwide.
|Location||% Change in job advertisements|
|New South Wales||-19%|
By sector, job advertisements in Manufacturing dropped 24%, followed by Retail at 22% and Construction at 17%.
However, the averaged advertised salary, $95,821, is up 2.0% compared to the same time last year. Manufacturing saw 10.0% growth in average salary in this period, followed by Consultancy at 9.0%, and Engineering with a 4% rise.
Adzuna CEO Raife Watson points to weak consumer spending as the key factor behind the lack of opportunities in the Australian jobs market.
“Staggering levels of house-hold debt coupled with stagnant wage growth mean Australians aren’t eating out or spending money on goods that aren’t necessities. The flow-on effect is companies tightening their budgets and putting a freeze on hiring. Until wages increase significantly, job opportunities will continue to diminish,” Mr. Watson said.
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