The latest Recruitment Experiences and Outlook Survey (REOS) Recruitment Insights Report for October 2024, released today, uncovers developments in Australia's labour market. The national recruitment rate dropped by 3 percentage points, with 42% of employers actively hiring.
In Rest of State areas, the decline was pronounced, with the recruitment rate falling by 9 percentage points from the previous month. However, there was a silver lining: recruitment difficulty eased by 7 percentage points, hinting at slightly improved conditions for employers seeking staff. Meanwhile, in Capital Cities, the story took a different turn—recruitment difficulty climbed by 5 percentage points, suggesting that competition for talent was intensifying. Despite these challenges, recruitment activity in urban centres ticked up by 1 percentage point, showcasing the resilience of the labour market.
On a broader scale, recruitment difficulty remained unchanged from the previous month, with 52% of recruiting employers facing obstacles. This rate is 4 percentage points lower than in October 2023 and a significant 23 percentage points below the record high of 75% recorded in July 2022. The data underscores a gradually easing, yet persistent, strain on employers.
Employer confidence in expanding their workforce dipped, with just 19% planning to increase staff—1 percentage point lower than at the same time last year. Additionally, the proportion of employers whose vacancies went unfilled after a month remained at 44%, unchanged from September 2024.
