The Wave Pulse: November 2024 Snapshot

November brought a significant shift in recruitment trends, with a 21% drop in job postings and an 11% decrease in applications compared to the previous month. Industry-wise, the Manufacturing and Education sectors remained resilient, leading activity across the board. 

Monthly Trends:

• Jobs Posted: Job postings decreased significantly by -21%, reflecting a seasonal slowdown in recruitment activity.

• Applications: Applications also dropped by -11%, suggesting reduced activity from job seekers during November.

• Avg App/Job: The average applications per job decreased to 21, a decline of 7 compared to October, indicating less competition per role.

Most Active Industries:

Jobs Posted:

• Education accounted for the highest share of postings at 30%, maintaining its strong demand.

• IT & Internet followed with 13%.

• Engineering & Utilities had 8%, while Manufacturing and Health & Nursing each contributed 7%.

Applications:

• Manufacturing dominated with 32% of total applications, confirming its position as the most competitive sector.

• Engineering & Utilities attracted 11% of applications.

• Health & Nursing followed with 9%, while IT & Internet received 8%.

• Education saw 6% of applications.

Our Analysis:

• Job Market Dynamics: The decrease in both job postings and applications suggests a seasonal slowdown typical of late-year trends. The drop in average applications per job to 21 reflects reduced activity from job seekers, potentially due to end-of-year holidays or planning for the new year.

• Industry Insights: Manufacturing continues to lead in competitiveness, with a significant proportion of applications (32%) despite its relatively small share of job postings (7%). Education remains the top sector for job postings, representing 30% of all listings, while Engineering & Utilities and Health & Nursing also experienced high levels of applicant interest.

• Weekly Patterns: The shift in activity to Fridays for applications highlights a potential end-of-week rush from job seekers, possibly aiming to secure roles before the weekend.

Wave’s regular reports focus on trends within the industry garnered from our exclusive data. Based on WaveTrackR’s jobs and applications data, you can make sense of the market, use the data to help with your recruitment marketing strategy and guide your clients through their sector’s position within the labour market.