A study by job search platform JobRisk has found the number of job vacancies in the Australian economy is rising at a faster pace than the number that have been created.
Key points:JobRisk analysed data from nearly 40,000 jobs posted on the JobRise platform from July to September, and found there were over 1,200 job openings in Australia as of the end of September 2016A survey of job seekers from the National Job Market Council found that the average age of job seeker is still 25, while over half of job candidates are over 40, with many still living with parents in the householdJobRisky’s research found there was over 1.3 million vacancies on the platform in the first three months of this year, with the majority of job postings coming from the construction industry.
JobRise’s survey also found that in the construction and services industry, the average job vacancy rate was 2.1 per cent, while in the mining, construction and mining equipment sectors, it was 1.9 per cent.
While the majority (70 per cent) of jobseekers were over 35, the majority were aged 18-24, and the majority had bachelor degrees.
Over the course of the survey, the surveyors found there are over 1 million job vacancies for every vacancy available, with almost half of all job seekers aged 18 to 24.
Job seekers from Queensland, Victoria and Western Australia were most likely to be job seekers in this age group, with nearly half of them aged 18 or over.
The average age for job seekers across all industries was 25, compared to just over a quarter of those in the service sector.
Over half of those who have not held a job in the past year are over 50, with most of them in the manufacturing, construction or mining sectors.
Job Risk CEO Simon Koehler said there was a growing need for young people in construction and the construction, construction equipment and mining industries, as well as the skilled trades in the hospitality and tourism industries.
“In addition to the construction jobs, there is an increasing demand for jobseekers in the retail, hospitality and leisure industries, including those in hospitality, retail, food and drink and accommodation and food services, as we continue to see the construction sector grow in size,” he said.
Job opportunities in construction, agriculture and construction services are expected to grow at the fastest rate over the next two years, according to JobRisky.
However, in the accommodation and recreation industry, over half (55 per cent of job applicants) are aged between 25 and 34, compared with only one per cent in the services sector.
“These are all highly-skilled industries that are also growing rapidly, but the demand for young jobseekers is still high and the supply is still limited,” Mr Koehl said.
“If you look at the number, the shortage is not due to the ageing of the population, it’s due to employers being reluctant to recruit young people, particularly in the age bracket of 35 to 44.”
In contrast, there are still some very talented young people working in the tourism industry, with just over half being over 25.
The report also found there has been a huge increase in the number and types of job listings, with over 20 per cent fewer job openings for every vacant position on the platforms.
“The demand for older workers has increased at an impressive rate, and as more people enter the workforce in an increasingly competitive and globalised economy, we are seeing an increasingly ageing workforce in many industries,” Mr Kaek said.
The research shows that the number on JobRisks platform has risen by around 10 per cent over the past three months, while there has also been an increase in jobs posted to other sites.
“We also found a substantial increase in job postings to Jobrisk’s job search engine JobRising, which offers more than 100,000 job opportunities for job applicants worldwide,” Mr Keohler said.
However Mr Kaeker warned that the surge in job openings is not sustainable, with job seekers expected to be looking for jobs again for the first time in six months, with no clear signs that job vacancies are becoming more available.
“It’s a worrying trend that is only going to get worse in the future as job vacancies continue to grow,” he added.