APSCo Index records market shuffle.

Changing times.

According to the APSCo Index, delivering on results for October there has been a shuffling of the demand market. Total market demand has dropped by nearly 9 per cent, with demand for managers and professionals dipping by 8.6 per cent. ICT has also been heavily hit with a drop in demand of 10.8 per cent. 

The market has likewise experienced a number of shuffles as a result of these shifts and in some cases is a parallel to the market’s experiences of this time last year. Temporary placements made a sudden return, back to six percent and new contracts represent 39 per cent of overall placement activity. The temporary and permanent shares are similar to October 2018, though it was new contracts with more share than renewals. 

While Melbourne remained with 28 per cent share of placements, Sydney returned to second place at 24 per cent. 

The market shuffling has resulted in Health Care and Social Assistance dropping slightly, while Education and Training, and Public Administration and Safety, both increased their shares slightly. October advertising fell to 99 per cent of the rolling six-month average, off the August peak of 108 per cent. 

Recruitment advertising increased again to 36 per cent, which continues to point to softening, and direct employment ads also dropped slightly. At this rate, Manager and Professional demand may remain sluggish until December. 

ICT Demand – Advertising by Industry for ICT Occupations

Professional, Scientific and Technical Services dropped to sub-20 per cent; Public Administration and Safety has lost 1.4 percentage points since August; while Financial and Insurance Services has surged 3.9 percentage points since September. The drop in demand has continued, off August’s 107 per cent of the six-month rolling average to 96 per cent in October. 

Direct advertising by employers has slumped to just 22 per cent, the lowest in the six months, while recruiter advertising has returned to its typical ceiling of 45 per cent.

Professional Staffing Supply 

Time to place contracts seems to have reached a floor and returned to 17 days, though 3rd quartile has increased slightly to 31. Permanent roles continued to increase, with a mean time to place of 34 days and a 3rd quartile of 50 days. 

Business Analyst and Project Manager roles softened slightly, while a large body of scribing and shortlisting entered the market. Remuneration softening came with a vengeance, with all mean and median averages down.

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