The SEEK job ad index compiled by NAB jumped 10.2 per cent in October on the prior month as companies begin a wave of post-lockdown hiring ahead of summer and the festive season.
The increase includes a 20.2 per cent jump for job ads in NSW, close the 22.8 per cent growth achieved in the prior month as restrictions began to wane.
In Victoria, growth of 16.3 per cent on the prior month follows the end of restrictions for the world’s most locked down city through the pandemic. The rise in job ads pushed the totals for both states to new record highs, according to NAB.
“New job ads rose most strongly in the jurisdictions coming out of lockdown,” economists from the bank said. “With such strong labour demand, the trend decline in unemployment in place prior to lockdowns should reestablish itself quickly.”