After copping some losses during the pandemic, SEEK has bounced back by posting a massive jump in profits.
👉 Background: SEEK is the Melbourne born employment marketplace that started revolutionising job ads back in 1997. These days SEEK has expanded across Asia Pacific and Latin America.
👉 What happened: While the company copped some losses during the pandemic, SEEK's recovery has been swifter than Oscar Piastri into a McLaren car. It just posted a massive 81% jump in profits to $245.5 million.
👉 What else: Employers are posting way more job ads across all segments in Australia and New Zealand. We're talkin' 50% more ads in the corporate sphere and 43% more for SMEs.
💡 While many of us are concerned about the increasing cost of living, our economy is somehow still enjoying extremely strong unemployment rates.
💡 Get this: the Australian Bureau of Statistics (ABS) says the unemployment rate fell to a 48-year low of 3.5% in June. And companies in the recruitment space are benefiting big time.
💡Employers are fighting it out to land the best candidates in the market. That means more spending advertising for jobs that were previously easy to fill. And those jobs ads sitting on the market for longer.
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