SEEK NZ Employment Report - January

National Trends

Ad volumes rose 4% in January, the largest increase since July. This was driven by growth in all of the largest regions, and in most industries. The only industries which did not record growth in January were Legal (-17%), Insurance & Superannuation (-16%) and Accounting (-3%).

The rate of decline in ad volumes recorded over the past four years has slowed over the last six months, with job ads now just 17% lower y/y.

After falling in November, applications per job ad rose 2% in December, and are 26% higher y/y. Though the rate of growth has decreased significantly over the past year, competition remains extremely fierce for the job opportunities available.

Region Trends

Aside from Taranaki, where volumes fell 11% m/m, all regions recorded job ad growth in January.

The largest jumps in ad volume in January were in the smaller regions of Tasman (18%) and Marlborough (12%), however Auckland (5%) and Canterbury (7%) were the largest contributors to the overall increase in ad volumes for the month.

In Otago, job ads jumped 8% m/m, and are now only 1% lower y/y, due to some notable growth occurring over the past four months, particularly in Hospitality & Tourism.

Wellington, where ads broadly fell for the first half of 2024, has experienced more growth than decline since July, and rose 3% in January.

Applications per job ad rose in all of the largest regions m/m, but declined in Bay of Plenty, and Manawatu, among others.

Industry Trends

The rise in ad volumes in January was led by increasing demand for Public Sector workers, particularly within Education & Training (18%), Government & Defence (9%) and Healthcare & Medical roles (5%).

Consumer Services roles also supported the monthly increase in job ads, with Call Centre & Customer Service (31%) and Retail & Consumer Products (18%) recording significant rises in ad volumes m/m.

The only decline was recorded in the Professional Services sector, specifically in Legal (-17%), Insurance & Superannuation (-16%) and Accounting (-3%).

Only three industries have recorded a rise in job ads y/y albeit off a low base: Banking & Financial Services (18%), Mining Resources & Energy (16%) and Government & Defence (2%).

Applications per ad grew the most for Education & Training roles (18%), Call Centre & Customer Service (14%) and Construction roles (12%) m/m.

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