Report shows more jobs, higher pay in Sydney than NSW and other parts of Australia
A report by job search engine Adzuna shows there are more job opportunities in Sydney than in New South Wales and those in the rest of the state. This month, there is an average of 3.6 job seekers per job vacancy in Sydney while 6.7 nationally and eight in regional NSW. The analysis had also found that job seekers can expect a higher pay in Sydney for most sectors than in other areas.
Ninety five percent of the state's finance sector job advertisements belong to Sydney, with 82 percent of trade and construction job advertisements, 80 percent in hospitality industry and 78 percent of advertised teaching jobs. Adzuna's chief executive, Raife Watson, notes that competition for jobs outside Sydney is tight. "Just hours out of Sydney in areas like the Illawarra, Newcastle and Riverina, job vacancies are scarce and competition for roles is fierce," Watson said according to Sydney Morning Herald.
There were 6.1 job seekers in Melbourne per every advertised job vacancy in March, but the ratio rose to 10.4 in regional Victoria. In Sydney, on the other hand, the ratio of job seekers to job advertisements was not changed compared with a year earlier.
Additionally, job seekers are being offered a higher salary in Sydney compared with other parts of the state. For instance, the trade and construction sector offers a salary of $105,845 in Sydney, 35 percent more than those in Newcastle ($105,845). Watson noted that the salary disparity in capital cities and regional Australia "still leaves a considerable shortfall" despite the lower cost of living in the latter areas.
Meanwhile, job seekers in the healthcare industry can be assured of higher pay in regional NSW ($122,688) compared to Sydney at ($104,364). Healthcare is the only industry in which those looking for a job can expect a higher pay when applying outside Sydney. The report said this can be explained by the much higher rates of pay for locum doctors in regional Australia.
The number of job vacancies in Sydney underlined the recent strength of the state’s economy, which surged 4.5 percent in 2015-16. NSW economy rose at 0.4 percent on the same period. Data from the SGS Economics and Planing, a planning and economics firm, indicates that three Sydney districts delivered 24 percent of the country’s gross domestic product growth last financial year. These districts are the central business district (CBD), the inner northern suburbs and the Ryde district.
