Job ads soar – but no one’s applying
In October, SEEK had more job ads than ever before. Seek suggests this resulted from a combination of easing COVID restrictions and businesses getting ready for the holiday period.
In Victoria, job ads recorded a growth rate of 16.3%. Roles within hospitality and tourism led the way with a jump of 123.8% in Victoria.
However, while job ads and traffic on SEEK remain high, applications per ad were low, compared to historical trends.
Anecdotally, business owners in tourism and hospitality are complaining about the difficulty in attracting staff.
They have also been jolted by the demands of existing staff who are threatening to leave without extra pay, or better conditions. More evidence to suggest the power pendulum has clearly swung post-pandemic from employers towards employees.
Others suggest a change in work patterns and working from home has led to the realisation that there is more to work than the daily grind.
Last week, the Reserve Bank suggested wages growth could pick up to its highest pace in years as the economy recovers from the pandemic and the labour market tightens.
While the less skilled have been more widely talked about, the semi-skilled and highly skilled workforce are also experiencing supply shortages.
In the US the scarcity of workers has been dubbed the “Great Resignation”, with workers leavinging their jobs at unprecedented rates.
As such, Jeff Bezos has even increased the hourly pay rate for new workers at Amazon, albeit by only $3.00, to $US18.00.