THE Internet Vacancy Index (IVI) based on a count of online job advertisements, has fallen for the ninth consecutive month according to the Department of Education, Employment and Workplace Relations (DEEWR).
The IVI declined by 0.6 per cent in January 2012 in trend terms. Over the year, the IVI has fallen by 8.5 per cent and is now 42.5 per cent below the March 2008 peak.
The data comes from DEEWR’s February 2012 Vacancy Report which is based on a count of online vacancies newly lodged on SEEK, My Career, CareerOne and Australian JobSearch.
Over the year, the IVI increased in Western Australia, the Northern Territory and Queensland, but decreased in all other states and the ACT.
In seasonally adjusted terms the IVI increased by 1.9 per cent over the month.
The strongest occupational declines were recorded for labourers (down by 1 per cent), followed by machinery operators and drivers and sales workers (both .5 per cent). Increases were recorded for professionals (up by 0.7 per cent) and managers (0.1 per cent).
Skilled Internet Vacancy Index increases
The Skilled IVI increased in January 2012 (up by 0.4 per cent) with rises recorded across seven occupational groups. Science professionals and veterinarians recorded the largest increases (up by four per cent). Professionals and engineers recorded a 2.1 per cent increase and engineering, ICT and science technicians recorded a 1.4 per cent increase.
Over the year to January 2012, the Skilled IVI has fallen by 6.9 per cent, with the strongest declines being recorded in construction trades, down by 29.1 per cent.
The IVI report was released in the same week as DEEWR’s Monthly Leading Indicator of Employment (Indicator) which anticipates movements in the growth cycle of employment. The Indicator fell in February 2012 after rising for five consecutive months previously.
The report stated: “It is too early to confirm that a slowing in employment growth (to a rate below its downwardly revised long-term trend of 1.7 per cent per annum) is in prospect, because the
Indicator has fallen for fewer than six months. In comparison, cyclical employment has fallen for twelve consecutive months.”
The complete DEEWR Vacancy Report February 2012 is available to view here.
The February 2012 DEEWR Monthly Leading Indicator of Employment is available to view here.
