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Long Term Skills Shortage Becoming Apparent
By neo
The SEEK Employment Index
Many areas of the economy are beginning to feel the impact of long term skills shortages according to the latest employment market data from SEEK.
The SEEK Employment Index, which measures the ratio of new job ads to job applications, now sits at its highest point since October 2004 following a further 4.6% rise in September. Its strong upward trend provides clear evidence to Australian employers that the tight employment market has some way to run.
The index was considerably higher in all states in September. South Australia recorded the greatest increase at 6.8%, followed by Queensland (5.8%), NSW (4.3%) and the ACT (4.1%).
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Strong growth in job vacancies in the mining, construction, IT&T and consumer goods sectors helped fuel a 4.9% increase in new job ads across Australia last month. New jobs advertised were strongest in South Australia where they increased by 5.9%. Victoria (4.9%) and Queensland (4.2%) also experienced strong gains.
Job Applications
Job seeking activity remained steady in September with the number of job applications posted rising by just 0.3%. Western Australia experienced a 2.3% increase in job applications, suggesting that publicity around the resources boom may now be attracting applicants from other areas, but Queensland (-1.6%) South Australia (-0.9%) and NSW (-0.6%) all experienced falls in job application numbers.
Commenting on the results, SEEK Sales Director Joe Powell said:
“There’s been a lot of talk about skills shortages driving the tightening of the labour market in relation to the current resources boom. It seems as though the retirement of the baby boomers is possibly a far greater, lurking problem.
“In September, property valuers seemed to appear quite suddenly within the five most candidate-short occupations
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