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The labour market continued to soften in November with job seekers facing increased competition for positions, according to Seek’s Employment Index.
Released yesterday, the index, which measures the ratio of new job ads placed with Seek to applications, recorded a 4.6 per cent fall, seasonally adjusted.
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The Index now stands 45.6 per cent lower than in November 2007.
The signs of a slowing labour market are particularly prominent in New South Wales and Victoria but the index also reported the first sharp fall in new job ads in Western Australia of 5.2 per cent – which could be a sign of things to come as the state feels the effects of slowing resource demand.
