SEEK EI, February 11 Commentary The SEEK indicators for February 11 again show that the economy is experiencing continued steady growth in spite of the impact of natural disasters and the quite different forces at work in various industrial sectors. New job ads registered with SEEK increased by 1.5% in January 11 in seasonally adjusted terms, after a (revised) small fall of 0.4% in January on top of strong rise of 4.6% in December 10. As a result, new job ads were.2% higher than in January 11 than a year earlier. With new applications for jobs moving broadly in line with new job ads in the last two months, the SEEK Employment Index - the ratio of new job ads placed with SEEK during the month to the number of applications for those jobs is at the same level in February 11 as in December 10, having risen 0.2% in January and fallen by the same amount in February. This recent stability needs to be seen in the context of an 8.4% rise of the Index in the final quarter of 10 and of an increase of 19.0% in the year to February 11. Given the impact of pronounced seasonal factors and of natural disasters in recent months, the best indication of both national and regional trends is provided by somewhat longer term data. Figure 1A shows the moving three month percentage change in both new job ads and the Employment Index, for three monthly periods ending in February 11. The figure shows that over the past twelve months the growth in both variables has averaged about 5% per quarter, a rate consistent with steady growth but well below that of the recovery period in 09. In the three months to February 11 new job ads rose by 5.7% and the Employment Index rose by 3.7%. On a monthly basis, the recent new job ads figures by state show considerable variation, reflecting both seasonal variations and the impact of natural disasters. For example, new job ads in Western Australia fell by 2.6% in February 11, in a continued reaction to the 12.3% hike in December 10, while in Queensland the rise of 9.9% in February more than recovered the flood affected decline of 7.4% in January 11. But on a three month basis, all of the states showed good growth in ads, ranging from 4.6% in New South Wales to 8.8% in Tasmania. A longer term comparison shows the impact of the resources boom and other factors, such as the global financial crises and the appreciation of the exchange rate, on the labour markets of the mainland states. Compared to February 07, the seasonally adjusted new job ads in February 11 were 5.5% higher for Australia as a whole, with a rise of 7.3% for Victoria and a decline of 7.8% for New South Wales. For states affected by the resources boom, new job ads over the four year period were up by 37.7% for South Australia and by 32.5% for Western Australia, but down by 0.2% for Queensland. This latter figure shows how other factors, such as the decline of tourism, have offset the impact of the resources boom on new job ads in Queensland. Figure A1: Growth in SEEK New Job Ads and SEEK Employment Index (3-monthly moving average per cent change, seasonally adjusted; February 09 to February 10) Rate of change (%) 15 13 11 9 7 5 3 1-1 SEEK New Job Ads SEEK Employment Index Professor Peter Sheehan Director, Centre for Strategic Economic Studies, Victoria University
The SEEK Employment Index is the first Australian indicator to measure labour market supply and compare this against labour market demand. Each monthly release includes two key indicators: 1. The SEEK Employment Index (SEI), a dynamic snapshot of matching between the supply of jobseekers and demand for workers (i.e., the ratio of new job advertisements posted on the SEEK website to job applications for those ads); and 2. Candidate Demand, as measured by new job advertisements posted on the SEEK website; These indicators provide useful insights into the dynamics of the Australian labour market. For further explanation on the applications of use please refer to the SEEK Employment Index launch document available at www.seek.com.au/intelligence Figure 1. SEEK Employment Index (Average 02-04 = ), seasonally adjusted 1 Tightening labour market Trend Seas. Adj. Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Softening labour market Seasonally adjusted, the SEEK Employment Indicator (SEI) - the ratio of new job ads placed with SEEK during the month to the number of applications for those jobs fell by a modest 0.2% in February 11 to offset an identical increase in the previous month. The SEI is now 19.1.5% higher than in February 10. At the regional level, the SEI rose slightly in New South Wales (0.6%), fell sharply in Western Australia (-5.4%), Victoria (-1.1%), and South Australia (-1.2%) but surged in Queensland (5.1%). The seasonally adjusted SEI series in February 10 was 50% of the level recorded in February 07 for Australia, 50% in New South Wales, 61% for Victoria, 37% for Queensland, 59% for South Australia, and % for Western Australia.
Figure 2. SEEK New Job Ads Index (Average 02-04 = ), seasonally adjusted 0 350 300 250 0 150 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Seasonally adjusted, the SEEK New Job Ads series increased by 1.5% in February 11. New job ads were.3% higher than in February last year. Regional outcomes again have diverged this month. New job ads remained at almost similar levels as in the previous month in New South Wales (0.3%), Victoria (0.1%) and South Australia (0.7%) but fell in Western Australia by 2.6%; the second consecutive monthly decline this year. In contrast, new job ads surged in Queensland (9.9%), obviously a compensation for the sharp decline in January 11. Compared to the same month in 07, the seasonally adjusted SEEK New Job Ads series is 5.5% higher for Australia, 7.3% for Victoria, 37.7% for South Australia, and 32.5% for Western Australia. In contrast, it is lower by 7.8% for New South Wales, and 0.2% for Queensland. Top 5 most competitive occupations: Industry Manufacturing/Operations Call Centre/Cust. Service Hospitality & Tourism Retail & Consumer Prods. Trades & Services Occupation Packer/Filler Call Centre Operator Kitchen/Sandwich Hand Retail: Sales Assistant Cleaning If you are looking for a place in one of these categories it is vital that you get a competitive edge and present yourself in the best light - the competition is fierce. Hundreds of applicants are received for each position advertised, making these SEEK s Top 5 most competitive occupations. Top 5 occupations in most demand: Industry Occupation Legal Snr Assoc. Solicitor Insurance & Superannuation Broking Construction Architecture Real Estate Valuation Healthcare & Medical Nursing/Midwives The special group! If you are seeking for a place in these categories and you have the relevant skills and experience, you are lucky and highly sought after. Be it due to increasing demand or a critical shortage of specialised skills, these positions are the hardest to fill. 3. SEEK EI February 11
The following charts illustrate the SEEK Employment Index by State and Territory. State and Territory is determined by the classification of the job advertisement, not necessarily by the locality of the position. Figure 3. SEEK Employment index by Region (Average 02-04 = ), seasonally adjusted NSW VIC 1 NSW 1 VIC 1 1 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 QLD SA 1 QLD 1 SA 1 1 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 WA TAS 1 1 WA 1 1 TAS 1 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 NT ACT 1 NT 1 ACT 1 1 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Note: The ABS concurrent approach to seasonal adjustment was adopted in July 06. This involves the use of the complete series in adjusting for seasonal factors such as Easter, working day and holiday effects. Thus, some of the historical estimates may be different to those reported in earlier releases.
Table 1. SEEK Employment Index (SEEK EI) (see Figure 1) Month EI Index Orig. EI Index SA Annual % Change Monthly % Change Feb-07 89.3.9 3.8 % 2.5 % Mar-07 97.3 104.5 6.9 % 3.6 % Apr-07 96.5.8-0.7 % -3.6 % May-07 106.3 105.1 6.6 % 4.3 % Jun-07 110.1 106.3 7.8 % 1.1 % Jul-07 105.9 104.9 10.7 % -1.4 % Aug-07 112.6 104.7 11.4 % -0.2 % Sep-07 126.6 109.1 15.0 % 4.2 % Oct-07 118.2 104.8 12.2 % -4.0 % Nov-07 107.7 106.4 11.4 % 1.6 % Dec-07.4 103.7 5.4 % -2.6 % Jan-08 78.8 98.9 0.5 % -4.6 % Feb-08 87.0 98.5-2.4 % -0.4 % Mar-08 86.5 94.6-9.5 % -4.0 % Apr-08 86.9 90.4-10.3 % -4.4 % May-08 87.5 87.1-17.1 % -3.6 % Jun-08 83.4 82.5-22.5 % -5.4 % Jul-08 75.1 75.7-27.8 % -8.1 % Aug-08.8 74.5-28.8 % -1.6 % Sep-08 78.6 68.2-37.5 % -8.5 % Oct-08 70.1 62.2 -.6 % -8.8 % Nov-08 57.5 55.8-47.5 % -10.2 % Dec-08 51.6 52.3-49.5 % -6.3 % Jan-09 37.4 46.9-52.6 % -10.4 % Feb-09 36.8 41.4-58.0 % -11.7 % Mar-09 33.4 36.9-61.0 % -10.8 % Apr-09 34.8 36.1 -.1 % -2.3 % May-09 34.5 34.4 -.5 % -4.7 % Jun-09 32.9 33.0 -.0 % -4.1 % Jul-09 34.1 33.9-55.2 % 2.9 % Aug-09 37.0 34.2-54.1 % 0.9 % Sep-09 39.7 34.8-49.0 % 1.6 % Oct-09 41.9 36.8 -.8 % 5.7 % Nov-09.3 38.6-30.8 % 5.0 % Dec-09 39.5 39.8-24.0 % 2.9 % Jan-10 33.5 41.7-11.1 % 4.8 % Feb-10 37.1 42.1 1.7 % 1.1 % Mar-10 38.7 42.6 15.3 % 1.2 % Apr-10 41.6 42.9 18.9 % 0.7 % May-10 43.4 43.8 27.4 % 2.2 % Jun-10 44.4 44.5 34.9 % 1.5 % Jul-10 47.5 46.5 37.1 % 4.6 % Aug-10 50.1 46.5 35.7 % -0.2 % Sep-10 52.5 46.2 32.8 % -0.6 % Oct-10 54.4 47.6 29.5 % 3.1 % Nov-10 50.6 48.3 25.0 % 1.4 % Dec-10 50.2 50.1 26.0 % 3.8 % Jan-11.7 50.2.6 % 0.2 % Feb-11 43.8 50.1 19.1 % -0.2 % Note: The ABS concurrent approach to seasonal adjustment was adopted in July 06. This involves the use of the complete series in adjusting for seasonal factors such as working day and holiday effects. Thus, some of the historical estimates may be different to those reported in earlier releases. Annual change is the percentage change from the same month in the previous year. Monthly change is the change from the previous month. 5. SEEK EI February 11
Table 2. SEEK New Job Ads Posted During Month Index (see Figure 2) Month Ads Index Orig. Ads Index SA Annual % Change Monthly % Change Feb-07 297.6 303.7 34.1 % 7.1 % Mar-07 343.3 323.7 39.0 % 6.6 % Apr-07 290.0 321.3 37.9 % -0.7 % May-07 365.6 330.6 37.0 % 2.9 % Jun-07 334.6 337.6 37.1 % 2.1 % Jul-07 384.5 353.4 41.8 % 4.7 % Aug-07 2.5 356.9 42.1 % 1.0 % Sep-07 3.8 369.3 43.4 % 3.5 % Oct-07 410.5 371.7 39.8 % 0.6 % Nov-07 390.6 389.6 42.8 % 4.8 % Dec-07 261.5 393.6 35.5 % 1.0 % Jan-08 372.3 390.2 37.7 % -0.9 % Feb-08 389.5 386.4 27.3 % -1.0 % Mar-08 364.6 385.9 19.2 % -0.1 % Apr-08 390.9 394.3 22.7 % 2.2 % May-08 423.6 392.7 18.8 % -0.4 % Jun-08 378.2 382.6 13.3 % -2.6 % Jul-08 410.1 369.3 4.5 % -3.5 % Aug-08 384.3 3.4 1.0 % -2.4 % Sep-08 372.1 338.5-8.3 % -6.1 % Oct-08 348.8 316.2-14.9 % -6.6 % Nov-08 290.8 304.6-21.8 % -3.7 % Dec-08 3.1 285.3-27.5 % -6.3 % Jan-09 244.1 261.5-33.0 % -8.3 % Feb-09 229.5 231.6 -.1 % -11.4 % Mar-09 217.5 211.2-45.3 % -8.8 % Apr-09 193.4 3.4-48.4 % -3.7 % May-09 211.2 2.2-48.5 % -0.6 % Jun-09 199.7 197.3-48.4 % -2.5 % Jul-09 219.8 197.3-46.6 % 0.0 % Aug-09 216.3 4.9-43.1 % 3.8 % Sep-09 234.6 214.6-36.6 % 4.7 % Oct-09 245.4 226.1-28.5 % 5.4 % Nov-09 221.3 226.6-25.6 % 0.2 % Dec-09 173.9 237.9-16.6 % 5.0 % Jan-10 238.0 259.8-0.7 % 9.2 % Feb-10 261.8 263.9 13.9 % 1.6 % Mar-10 281.7 263.8 24.9 % -0.0 % Apr-10 254.9 265.9 30.7 % 0.8 % May-10 2.1 271.5 34.2 % 2.1 % Jun-10 281.6 277.6.7 % 2.3 % Jul-10 317.3 290.8 47.4 % 4.7 % Aug-10 312.3 288.7.9 % -0.7 % Sep-10 315.8 290.0 35.2 % 0.4 % Oct-10 315.6 299.3 32.4 % 3.2 % Nov-10 300.9 300.1 32.4 % 0.2 % Dec-10 223.6 313.9 31.9 % 4.6 % Jan-11 287.2 312.8.4 % -0.4 % Feb-11 312.6 317.3.3 % 1.5 % Note: The ABS concurrent approach to seasonal adjustment was adopted in July 06. This involves the use of the complete series in adjusting for seasonal factors such as working day and holiday effects. Thus, some of the historical estimates may be different to those reported in earlier releases. Annual change is the percentage change from the same month in the previous year. Monthly change is the change from the previous month. 6. SEEK EI February 11
Table 3. SEEK New Jobs Ads Posted, by State, Seasonally Adjusted Data Index Month NSW VIC QLD SA WA TAS NT ACT Feb-07 248.6 285.3 442.6 272.3 482.4 312.2 319.2 275.5 303.7 Mar-07 258.1 299.3 490.5 301.8 526.7 343.3 375.8 302.6 323.7 Apr-07 258.3 305.7 477.6 291.0 506.5 341.2 356.7 289.4 321.3 May-07 261.9 310.0 498.7 318.8 544.9 349.9 348.3 290.2 330.6 Jun-07 266.2 314.1 507.9 3.3 558.9 344.3 377.3 319.5 337.6 Jul-07 281.1 327.2 530.8 353.5 584.3 390.9 350.3 3.1 353.4 Aug-07 282.9 329.4 537.4 366.8 591.8 0.0 392.9 3.7 356.9 Sep-07 289.8 344.0 558.9 389.4 615.5 436.9 353.7 325.0 369.3 Oct-07 293.3 345.1 567.4 379.8 615.7 411.4 431.2 302.1 371.7 Nov-07 303.5 365.2 591.9 1.3 661.6 441.4 416.2 322.8 389.6 Dec-07 307.6 365.9 7.8 393.3 651.8 421.2 447.2 341.4 393.6 Jan-08 302.0 365.7 596.7 9.5 657.2 457.7 454.5 331.8 390.2 Feb-08 297.5 358.6 596.1 419.9 666.5 470.7 1.2 312.1 386.4 Mar-08 297.5 357.6 594.9 424.3 651.2 497.4 466.1 324.7 385.9 Apr-08 298.9 364.3 611.2 444.5 702.7 521.3 476.6 303.3 394.3 May-08 297.4 357.6 5.1 476.5 702.0 508.3 532.8 318.7 392.7 Jun-08 286.1 353.4 1.3 436.7 678.9 482.2 558.3 307.2 382.6 Jul-08 274.0 336.2 583.0 5.9 698.7 413.2 476.6 293.7 369.3 Aug-08 261.6 328.6 571.4 395.3 696.9 390.2 521.3 318.2 3.4 Sep-08 243.1 309.4 530.5 376.3 6.4 377.1 490.7 296.5 338.5 Oct-08 222.0 289.9 491.8 358.6 656.2 3.6 532.9 294.4 316.2 Nov-08 212.9 274.8 488.5 366.3 2.1 5.5 522.0 307.0 304.6 Dec-08 199.5 259.7 4.4 343.3 554.6 370.3 483.6 275.5 285.3 Jan-09 184.2 2.7 416.4 309.8 493.2 350.3 468.6 271.0 261.5 Feb-09 165.2 2.4 353.5 294.8 7.7 318.1 438.4 257.8 231.6 Mar-09 152.3 3.7 317.2 256.7 357.9 331.0 470.7 238.0 211.2 Apr-09 145.5 197.2 307.2 259.3 334.0 338.9 470.3 238.1 3.4 May-09 143.7 198.3 298.5 258.0 344.3 343.9 3.8 245.4 2.2 Jun-09 1.3 194.2 295.2 252.9 324.5 317.2 426.5 234.6 197.3 Jul-09 1.2 196.4 286.8 250.2 335.7 308.9 363.9 246.5 197.3 Aug-09 144.7 3.6 297.5 266.6 358.0 324.4 432.6 234.3 4.9 Sep-09 154.0 210.6 306.1 286.3 381.7 325.9 482.3 228.8 214.6 Oct-09 161.0 221.0 323.9 301.0 4.8 322.9 538.1 254.9 226.1 Nov-09 167.2 224.2 313.4 2.3 1.1 327.0 457.7 242.3 226.6 Dec-09 173.7 236.5 323.9 294.5 443.0 346.0 515.5 2.5 237.9 Jan-10 186.6 249.2 376.3 323.3 481.5 370.9 521.0 294.2 259.8 Feb-10 191.9 258.9 362.4 326.3 497.3 3.9 503.3 292.0 263.9 Mar-10 194.2 261.4 357.8 3.5 497.9 397.2 481.6 2.1 263.8 Apr-10 194.1 259.7 363.0 315.8 519.0 8.2 467.0 281.1 265.9 May-10 198.5 268.0 374.5 317.0 514.3 3.7 505.4 277.2 271.5 Jun-10 4.7 274.5 378.9 331.6 515.3 392.7 546.4 286.6 277.6 Jul-10 211.2 286.5 397.3 350.3 567.4 385.8 556.4 295.3 290.8 Aug-10 211.7 284.5 392.3 337.8 558.7 385.9 550.8 294.2 288.7 Sep-10 213.1 286.1 398.1 333.4 5.8 367.9 487.8 287.8 290.0 Oct-10 216.3 291.5 413.1 347.1 590.9 370.3 547.0 338.6 299.3 Nov-10 219.1 291.8 9.7 347.6 590.7 383.8 475.2 343.4 300.1 Dec-10 224.6 300.3 433.6 361.0 663.4 8.1 542.2 339.2 313.9 Jan-11 228.3 305.6 1.7 372.5 656.7 436.9 550.2 345.8 312.8 Feb-11 229.1 306.0 441.6 375.1 639.4 417.7 512.8 3.2 317.3 Note: The ABS concurrent approach to seasonal adjustment was adopted in July 06. This involves the use of the complete series in adjusting for seasonal factors such as working day and holiday effects. Thus, some of the historical estimates may be different to those reported in earlier releases. TAS and NT sample sizes are limited and as such should be interpreted with caution. Also the state and national series are seasonally adjusted separately and, as a result, there may be some discrepancy between the national and the average of the state series. 7. SEEK EI February 11
Table 4. SEEK EI, by State (see State charts) Month NSW VIC QLD SA WA TAS NT ACT Feb-07 92.6 104.1 106.5 56.3 125.6 48.8 82.1 102.9.9 Mar-07 93.2 105.3 115.5 59.5 139.1 49.0 87.2 107.3 104.5 Apr-07 90.9 105.3 108.4 53.8 127.8 48.3 79.7 99.5.8 May-07 93.4 108.5 115.0.8 136.9 47.5 87.6.8 105.1 Jun-07 94.3 107.9 118.3 61.4 139.3 55.1 95.9 110.2 106.3 Jul-07 95.0 106.9 111.5 63.1 132.6 61.8 72.2 107.7 104.9 Aug-07 93.3 106.3 113.1 63.0 139.5 58.8 96.6 103.6 104.7 Sep-07 96.0 111.3 1.4 66.8 146.3 59.4 85.6 105.4 109.1 Oct-07 92.0 107.8 116.5 62.3 138.0 54.9 76.5 97.7 104.8 Nov-07 92.6 110.2 115.7 66.3 144.6.0 94.3.5 106.4 Dec-07 88.6 110.1 113.8 66.2 131.4 57.0 83.8 102.9 103.7 Jan-08 85.1 106.0 104.5 63.0 129.1 56.1 77.1 95.4 98.9 Feb-08 84.4 103.9 105.3 67.9 130.4 69.6 72.3 87.3 98.5 Mar-08.6.3 102.3 65.8 118.8 61.6 86.6 88.7 94.6 Apr-08 75.1 97.2 97.7 62.6 119.6 61.4 79.8 82.3 90.4 May-08 73.3 92.3 92.4 65.0 111.3 64.9 87.7 84.7 87.1 Jun-08 68.6 88.1 86.8.5 109.1 62.5 98.8 79.0 82.5 Jul-08 63.0 81.8 78.7 51.8 99.3 52.3 61.6 73.4 75.7 Aug-08 61.9.3 75.6 50.8 99.5 47.6 64.3 78.6 74.5 Sep-08 56.1 72.8 69.5 50.8 92.2.3 72.3 69.1 68.2 Oct-08 50.3 66.2 63.4 45.4 87.3 34.2 63.1 65.3 62.2 Nov-08 44.8 59.1 57.3 45.8 74.0 49.3 65.3 64.7 55.8 Dec-08 42.7 55.5 53.1 42.7 68.2 43.2 67.4 56.9 52.3 Jan-09 39.3 51.4 46.1 38.0 53.0 39.9 54.3 55.0 46.9 Feb-09 35.2 47.5 38.9 33.3 43.6 34.3 47.7 51.2 41.4 Mar-09 32.1 42.6 33.2 31.8 37.3 43.1 43.4 46.4 36.9 Apr-09 30.7 42.2 33.5 31.0 35.3 35.0 44.7 44.5 36.1 May-09 29.3.5 31.2 28.7 35.1 31.3 35.8 44.0 34.4 Jun-09 28.1.0 29.8 27.6 30.8 36.3 38.1 41.1 33.0 Jul-09 29.3.9 30.5 28.3 31.9 31.2 33.5 42.7 33.9 Aug-09 29.1 41.0 31.4 29.8 32.9 31.6 45.1 39.4 34.2 Sep-09 30.0 41.8 31.4 30.1 33.3 32.4 44.7 38.0 34.8 Oct-09 31.5 45.0 32.5 31.1 34.9 34.0 51.5 42.4 36.8 Nov-09 34.5 48.2 33.0 29.3 35.4 33.9 48.6.8 38.6 Dec-09 34.6 50.0 33.8 30.6 38.9 33.3 47.1.1 39.8 Jan-10 36.3 50.9 36.3 31.3.5 35.3 50.7 46.6 41.7 Feb-10 36.8 52.8 34.9 32.9 41.7 34.9 41.2 46.6 42.1 Mar-10 37.9 54.4 34.3 31.7 42.5 31.9 44.3.8 42.6 Apr-10 38.4 53.9 34.4 32.0 43.2 34.4 38.6 43.9 42.9 May-10 39.1 55.9 35.5 32.4 42.9 34.0 44.6 43.0 43.8 Jun-10 39.8 57.3 35.2 33.0 43.6 33.8 47.3 44.1 44.5 Jul-10 41.1.2 37.0 33.3 47.6 31.4 47.3 44.7 46.5 Aug-10 41.3.8 35.9 33.2 47.5 33.5 45.8 44.2 46.5 Sep-10 41.6 61.0 35.2 31.2 47.5 28.0 45.2 43.1 46.2 Oct-10 42.8 61.6 36.5 33.4 48.5 30.0 44.5 50.0 47.6 Nov-10 43.9 62.9 36.7 32.5 48.5 29.2.8 49.9 48.3 Dec-10 45.7 63.5 38.7 32.9 52.2 30.9 41.1 48.6 50.1 Jan-11 45.6 64.2 37.5 33.7 53.8 30.5 38.8 50.1 50.2 Feb-11 45.9 63.6 39.4 33.3 50.8 29.9 38.0 48.0 50.1 Note: The ABS concurrent approach to seasonal adjustment was adopted in July 06. This involves the use of the complete series in adjusting for seasonal factors such as working day and holiday effects. Thus, some of the historical estimates may be different to those reported in earlier releases. Annual change is the percentage change from the same month in the previous year. Also, the state and national series are seasonally adjusted separately and, as a result, there may be some discrepancy between the national and the average of the state series. 8. SEEK EI February 11
An explanation of the SEEK indicators are as follows: Advertiser an individual or organisation who has placed an advertisement on the SEEK website. SEEK charges advertisers to post an advertisement to the website. Application a response made to a job advertisement via the SEEK website through the Apply Now function, which sends responses directly to the advertiser. Duplicate Job Advertisement a job advertisement consisting of the same title and content as another advertisement posted to the SEEK website in the same month. This includes advertisements posted to different classifications (industry, occupation and location). Index a numerical scale used to compare variables with one another or with some reference number ( indexation point ). It illustrates relative changes in data over time. Industry defined as the SEEK industry classification in which the job advertisement was first placed, eg. Accounting. SEEK industry classifications have been mapped to the ANZSIC industry codes. Job Advertisement a posting made to the SEEK website advertising a specific position of employment that is available to be filled. Jobseeker an individual who visits the SEEK website with the view to searching for a job opportunity. SEEK does not charge jobseekers to apply for jobs. Labour market demand a measure of the level and composition of employment that employers wish to engage at a given point in time; given current wage rates, output levels and other relevant factors. Labour market supply a measure of the number of people seeking new employment including those working or available for work. It reflects the availability and willingness of actual and potential employees to supply labour of a particular structure and composition, given wage rates and other working conditions. Linked-Out Job Advertisement a job advertisement that requires applications to be lodged via a third-party website. The SEEK database does not record application volumes for linked-out advertisements. Location defined as the SEEK location classification in which the job advertisement was first placed, eg. Brisbane. Locations are broken down into Metro and Non-Metro. New Job Ads this is the number of new job ads posted on seek.com.au in that month. The series is adjusted to ensure that multiple postings count as only one ad. Multiple postings occur when an ad is posted several times across several classifications or when a client cancels and re-posts the same ad within the same month. Due to data availability, the New Job Ads series at the State level has not been adjusted for postings in multiple states. Seasonal Adjustment Seasonal adjustment was carried out by the SEATS/TRAMO model developed by the Bank of Spain. The model employs signal extraction techniques to pre-adjust the series for outlier and calendar effects. The adjustment accounts for working day and holiday effects. Also, the ABS concurrent approach to seasonal adjustment was adopted in May 06. This means that each month the above model is reestimated using the full data set available to that month. Thus, historical seasonally adjusted data may vary slightly from month to month, as revised seasonal factors are applied to the fixed original data. Note also that in order to account for regional diversity and to arrive at more robust adjustments for the national series, the state and national series are adjusted separately and, thus, there may be some discrepancy between the national and the average of the state series from time to time. SEEK Employment Index (EI) this is the number of new job ads posted on SEEK per applications received. Here, the New Job series is net of Linked Out job advertisements: ads channelled outside the SEEK website and for which applications are lodged directly with a third party. New job ad series are for full-month while application series are defines as number of applications made on SEEK last month and 7 days into the next month for new jobs posted. The latter is initially forecast and subsequently updated with actual figures. Disclaimer This document may not be reproduced, distributed or published by any recipient for any purpose. Under no circumstances is this document to be used or considered to be an offer to sell, or to be soliciting an offer to buy. The information and any opinions contained in this document have been obtained from and are based upon, sources that are believed to be reliable. The views expressed in this document accurately reflect the authors personal views. The authors make no representation as to the accuracy or completeness of the information and/or opinions and neither the information nor the opinions should be relied upon as such. All opinions and estimates contained in this document reflect the authors judgments on the date of this document and may change without notice from time to time. The authors compensation, remuneration or any money paid to the authors for production of this document was in no way, and never will be directly or indirectly related to specific recommendations, views or opinions expressed about any matter contained in this document. The Centre for Strategic Economic Studies and Victoria University disclaim any responsibility, and shall not be liable for data provided by SEEK Limited and market analysis based on these data. SEEK Limited and its related bodies corporate, their respective directors, officers, and employees disclaim any responsibility, and shall not be liable, for any loss, damage, claim, liability, proceedings, cost or expense ( Liability ) arising directly or indirectly (and whether in tort (including negligence), contract, equity or otherwise) out of or in connection with the contents of and/or any omissions from the contents of this document and/or any communications in relation to them. Occupation defined as the SEEK occupation classification in which the job advertisement was first placed, eg. Payroll. There are over 300 SEEK occupational categories. 9. SEEK EI February 11