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The Olivier Internet 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 are giving weight to internet stats and abandoning the newspaper ads as an employment indicator. John Edwards is quoted in this Shortlist article for example. The very detailed full analysis is to be found on the Olivier site, along with archived material. We will carry each month's release here, too. February Job Ads Back Strongly Sydney, Sunday March 4, 2007. The Olivier Internet Job Index has reached a new high, heralding strong employment conditions in Australia in 2007. The Olivier Internet Job Index is now at 307 indicating that there are three times as many jobs advertised on the net as there were seven years ago, when it was set at 100 in January 2000. There was a 42.26% increase in the raw ads counted in February which translated into a seasonally adjusted rise of 4.93% in the month. The Olivier research is subject to new seasonal adjustment factors provided by the ABS in the last month. Olivier counted an average of 287,267 jobs on the net during February – and by the last week of the month there were 297,000 ads, leading us to confidently predict that there will be 300,000 jobs advertised each day in total for the three major job boards soon. To put the figure in perspective – classified job ads in major metropolitan newspapers are running at just over 20,000 a week. “December and January are uneven volatile months as the job market takes a rest, as the graph shows,” Robert Olivier says. “The Christmas falls are getting bigger, but the bounce back is also getting bigger. November was our last ‘normal’ month and job ads have risen 11.14% since then. The market is back on track.” This is great news for the job boards which are all in record territory, according to the Olivier figures. This augurs well for Seek’s share price. The two major newspaper groups have also prospered by going digital. It’s also good for Australian workers. “We were surprised that the ABS recently showed that there was underemployment in Australia, despite the record low jobless rate,” Robert Olivier says. “The 5.0% underemployment rate can only be put down to structural issues. It’s a question of the right people with the appropriate skills being where the jobs are. But you can be sure that employers are trying to accommodate willing workers.” IT&T continues to be the major growing force in Australia, challenging Trades and Services for the number one spot as the biggest advertiser. In the past twelve months demand for IT&T workers has shot up 61.18%, surpassing Accounting, Engineering and Mining, and Sales and Marketing. In February IT&T job ads grew by 8.70% compared to a national average of 4.93% Multimedia, Internet and Graphics jobs were up 14.59%. The web boom is being driven by revenue based content creation, with graphic designers in most demand followed by web developers. Accounting and Law came back in February after a lacklustre year. Jobs for accountants were up 4.49% while legal jobs rose 8.98%. “The job ad market has looked to be flat, but there are no unemployed accountants or lawyers that I know of,” Robert Olivier comments. NSW has held its own in the jobs market, with 5.38% more ads last month. “That’s ahead of the national average and way ahead of Victoria’s 1.44%. Federal elections can create uncertainty in the job market, but it is business as usual in NSW.” Robert Olivier is a Director of Olivier Group. The Olivier Internet Job Index surveyed 287,267 Positions Vacant ads on commercial job sites in February 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 Internet Job Index will be available on Monday March 5 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: February 2007 Release January 2007 Release December 2006 Release November 2006 Release October 2006 Release September 2006 Release August 2006 Release |