Australia’s recruitment market has been static in recent years, but a recovery is in sight. Employment has been on the rise in the past few quarters and is currently at a 1.5-year high of 2.6%. Private employment (85% of total employment) is stagnant, growing just 1% over the past year. It is currently at the level seen in February 2016. Meanwhile, public sector employment is growing strong at 5%, although recent calls for austerity may lead to a correction in the future.
Job advertisements continue to grow. Online job ads continue to increase at the expense of print job advertisements, with online advertising accounting for 98% of total advertisements. Online advertising has become the dominant medium and, therefore, is expected to witness a slowdown and become vulnerable to disruptions.
Seek is the undisputed leader in the employment classified market and has pioneered the shift to online classifieds; however, LinkedIn has amassed a strong network, particularly in the professional market. Additionally, there is also a new wave of technology-led participants who are trying to disrupt the recruitment market. These participants are focusing on disrupting job boards or on creating niche talent communities as alternatives to LinkedIn. Major global players such as Google and Facebook are also experimenting with new recruitment features leveraging their core competencies.