The number of new job adverts in Australia increased by +0.5% between May and June 2014, buoyed by year-on-year growth in the demand for labour in the property and construction sectors, according to Australian job board SEEK.

While key economic indicators have fluctuated throughout 2014, new job advert numbers have remained firm. This follows a significant spike of +8.6% in new job adverts posted on the SEEK website between September 2013 and January 2014.

Joe Powell, Managing Director of Seek, commented: “Consumer and business confidence indices wavered as a result of the Federal Budget. However, steady interest rates have helped to encourage stability in business and, subsequently, employment growth across key industries.”

“The consistent interest rate of 2.5% since August 2013 has underpinned a 10-month growth period across the residential property market; leading to a significant rise in demand for property and construction labour,” he added.

Year-on-year SEEK new job ads data to June 2014 has shown a 190% increase in demand for architects, a +108% increase for builders, a +94% increase in demand for drafts-people, and +63% increase in demand for interior designers.

While overall new job advert figures have stabilised, there are still significant differences for job advert growth across each state, year-on-year, to June 2014. New South Wales rose by +14.1%, however, in Western Australia new job adverts were down by -1.5% in the same period. This divergence between the markets reflects the transition the Australian economy is going through off the back of the decline in mining investment.

The SEEK Employment Index, which measures the ratio of new job adverts placed on SEEK to the number of applications for those jobs, fell by -2.1% in June. With a steady demand for labour, this means hirers will have access to a larger pool of candidates.  

Mr Powell concluded: “Overall, it’s great to see that candidates have not been deterred by political rhetoric and economic uncertainty and are still keen to explore career options. For hirers, the healthy supply of candidates makes it an ideal time to strengthen their teams and capitalise on business opportunities stemming from low interest rates.”