Australia's Job Market Hits Record Competition Levels
Recent scenes at a Subway in Melbourne have starkly highlighted the intense competition in Australia's job market. A video showed dozens of applicants lining up for a single job interview, a sight that's becoming increasingly common across various sectors.
An international student was shocked to see so many people applying for a Subway job in Melbourne. (Source: TikTok)
Why Is the Job Market So Competitive?
- Record Applications per Role: SEEK's June employment report revealed a 2.3% month-on-month increase in applications per job, reaching the highest level on record.
- Economic Pressures: The cost of living crisis is pushing more Australians to seek second jobs, intensifying competition.
- Shrinking Job Listings: Job listings have fallen by 0.7% month-on-month and 5.3% year-on-year, making fewer opportunities available.
Expert Insights
Leah Lambart, a career coach, noted that this competitiveness isn't limited to retail or hospitality but spans white-collar sectors as well. Blair Chapman, a SEEK senior economist, added that the rise in applications is due to an increased candidate pool, with more people entering or re-entering the workforce.
The Reality for Job Seekers
A German international student experienced this firsthand when she arrived for a job interview at Subway, only to find 25 other applicants ahead of her. This scenario underscores the challenges faced by those seeking entry-level roles in Australia.
Key Statistics
- 963,100 workers in Australia hold multiple jobs, representing 6.5% of the employed population.
- The current job market's competitiveness surpasses pandemic levels, when roles were scarce.
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