Australia’s job market boom increases advertiser seek profits

Online Employment Directory Seek has raised its profit forecasts as Australian and New Zealand companies employ more workers than expected.

on Tuesday (pdf), Seek has revised its forecast for net income for fiscal year 2021 from $ 100 million to $ 140 million and net income from $ 460 million to $ 480 million.

Seek is reportedly Maximum number Since its inception, the percentage of classified ads posted on the website in March has increased by 75% annually and 10.3% monthly.

The three industries with the highest growth in classified ads were hospitality and tourism, services and healthcare. The former two suffered from blockades in particular and experienced many headcount reductions.

With the economy showing strong signs of recovery, companies are considering hiring again, and Seek found that the number of applications per job ad was at its lowest level since 2012.

Kendra Banks, Managing Director of Seek ANZ, said: “There are factors driving these strong numbers that are important to consider, such as many of the jobs currently being advertised for roles that changed jobs last year.”

Monday ANZ Survey (pdf), Job ads found increased 4.7% in April for 11 consecutive months. The number of classified ads exceeds the pre-COVID level.

“Companies looking to hire new workers are unlikely to be heavily dependent on JobKeeper’s payments as a whole,” said Catherine Birch, senior economist at ANZ.

Seek diversifies away from China

Seek also announced that shareholders will receive a dividend of 20 cents per share after Zhaopin’s trading is completed.

Seek has sold most of its stake in China’s job directory, reducing platform ownership from 61.1 percent to 23.5 percent.

“A portion of Zhaopin’s earnings will be returned to shareholders as dividends, which reflects SEEK’s outlook and our confidence in continued cash generation,” said Andrew Bassat, CEO of Seek.

Seek has already received a total of $ 500 million in April and will receive the rest in June.