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The Olivier Job Index provides a timely and fascinating monthly snapshot of the real economy. The research into what jobs are advertised on the net shows where the economy is strongest, by sector and state. An increasing number of commentators and economists rely on the Olivier Job Index as an indicator of where the economy is going. The RBA regularly uses Olivier's research, for example. Internet Job Ads have replaced Newspaper Ads as a measure of the real economy. John Edwards is quoted in this Shortlist article for example. The very detailed analysis for major industry sectors is to be found on the Olivier site, along with archived material. Robert Olivier is frequently interviewed by the media. Here he is on Sky News. Christmas Rush on Job Ads Sydney, Sunday January 13, 2008. The Olivier Job Index finished 2007 with a bang, rising by 9% (seasonally adjusted) in December. The raw number of job ads on major internet sites fell just 4%, a small decline compared to previous Decembers. The growth was widespread with every industry sector surveyed rising after seasonal adjustment. "The interest rate rise and election in November didn't dampen the demand for new workers," says Robert Olivier. "People are absolutely short of staff." Employers kept pushing to employ right through the month despite the Christmas festivities. The way that Christmas fell at the start of the week meant that there were three clear business weeks in the month, which also added to the total demand. Our week by week analysis showed that job ads remained strong through the first three weeks of the month. The Olivier Job Index has risen by 51% in the last 12 months mirroring the recent ABS survey of job vacancies. The Olivier survey accounts for a far larger inventory of jobs, but this also reflects the need for multiple advertisements to attract the right staff in a time of high demand. "We've been warning for some time that we see the prospect of wage driven inflation," says Robert Olivier. The Year in Review By Industry Sector Growth Winners Building and Construction (98%) Advertising and Media (68%) Trades and Services (64%) Engineering and Mining (62%) Administration (61%) Losers Accounting (25%) Sales and Marketing (34%) Financial Services (34%) IT&T (35%) HR and Recruitment (41%) Building and Construction experienced the largest growth, with 98% more jobs advertised over the course of the year, despite the interest rate rises. Advertising and Media took off too with a 68% increase in jobs, partly stimulated by consumer spending and partly due to the massive growth in online media. By State State (Change over 12 months) NSW 34% Vic 45% SA 77% WA 67% QLD 72% TAS 17% ACT 20% The state based data shows the strength of the resource rich states – QLD and WA, with SA the overall leader in job ad growth. By Employment Status Job Type (and Annual Change) Full time 46% Part Time 39.9% Contract/Temp 14.5% Casual/Vacation 65.5% The fall in contract and temporary jobs may indicate that job seekers are taking advantage of employers eagerness to hire to move from short term contracts to long term employment, in the light of changing economic circumstances. A New Olivier Job Index As it begins its 8th year as a leading economic indicator, the Olivier Job Index has undergone a name change, and a revision of the industry sectors we report on. There will also be more detailed reports on high interest industry sectors. "We know detailed information is wanted by business, job seekers and commentators, so we're analysing Sales and Marketing, Banking and Finance, Accounting, Human Resources, Office Support, along with a general Australian Market Report," says Robert Olivier. The new year also brings in a new more highly refined seasonal adjustment provided by the Australian Bureau of Statistics, ensuring even greater accuracy for our data. (ends) Robert Olivier is a Director of Olivier Group. The Olivier Job Index surveyed 358,880 Positions Vacant ads on commercial job sites in December and analysed them by state and industry sector. Robert Olivier is available for interview, and the microeconomic data including graphs of the industry sectors surveyed in the Olivier Job Index will be available on Monday January 14 on www.olivier.com.au Unless otherwise noted, all IJI figures quoted are seasonally adjusted, based on ABS advice. Released by Corporate Communications and Counsel. www.corpcoms.com Contact Bob Hughes 0407 901 587 or Katherine Scott 0415 764 159. Olivier Group, Level 9, 28 Margaret St, Sydney 2000. 9262 5344 Historical Releases: December 2007 Release November 2007 Release October 2007 Release September 2007 Release August 2007 Release July 2007 Release June 2007 Release April 2007 Release March 2007 Release February 2007 Release January 2007 Release December 2006 Release November 2006 Release October 2006 Release September 2006 Release August 2006 Release |