The New Year is the ideal time for a fresh start—and one resolution that many people typically make going into January is to find a new job.
2016 is no different. In fact, in a recent survey commissioned by Indeed, we found that over 50% of Australian workers are thinking of making a career change as the New Year gets underway.
Breaking the results down further, we found that 20% of respondents said that finding new work was definitely on their list for 2016, while a further 35% said the same goal was possible.
Motivations vary, but salary is a key factor for many people. In fact, 61% of respondents told us they would be looking for increased wages in 2016. By contrast, 37% said they were interested in a higher position or title. Meanwhile, for 45% a better location is a goal.
That’s a lot of people looking for new opportunities. It’s easy to start the year with good intentions, of course—but how many people are actually transforming them into action?
Job searches surge in early January
As the biggest job site in world, Indeed is in a unique position to take a deep look at how many people are taking action to find a new job in 2016. So we pulled the data for the month of December and the first week of January to get a better understanding of the phenomenon.
In fact, we always see a surge in search at the start of the year, and January 2016 continues the tradition:
After dropping off during the holiday period, the number of searches for a new job on Indeed quickly recovered, increasing by significantly between the last week of December and the first week of January. Each year we add more jobs to Indeed and each year we see more people actively looking for new opportunities. This year, we saw a slightly steeper increase than in 2015. Meanwhile after hitting this peak, search stays pretty constant as the business of finding a new job gets underway for the year.
The good news in 2016 is that this search is happening in time of strong employment growth. The high degree of interest in job search may also benefit industries which have suffered from a talent gap, such as healthcare and information technology.
Top cities for job search growth in January 2016
Location also plays an important role in the hunt for a new job of course—and analysis of search can provide us with insights here, too. So we looked at the data to identify the city centres in Australia with the fastest growth in the number of unique job seekers in 2016.
At the top of the list, we see Parramatta. This city is within the Sydney metropolitan area but has a distinct business district that is quickly becoming a jobs hub. Parramatta has risen as NSW’s second central business district after Sydney CBD. In mid-2015 a $2 billion dollar urban renewal project was approved. With the project slated to complete in 2019, businesses are already making plans to expand into the area. The 45.9% increase in job seeker interest indicates that candidates have caught on to the growing opportunity as well.
It’s a good time for hiring
For employers, this surge in job seeker interest means that it’s a good time to post a job. Last year, the economic recovery led to increased demand from employers with job seeker interest (i.e. supply) lagging behind. This year, we may see that gap closing as job seekers catch on to the wealth of opportunities available.
As Indeed Senior Vice President Paul D’Arcy says:
“The key for successful placements in this market is for job hunters to match up with employers that can meet their needs. If you’re already employed but want a change, now is a good time not just to look for a new job, but the right job.”
And even as searches surge in January, it’s important to remember that every time of the year is good for hunting for that perfect post, or candidate.