According to Callam Pickering at global jobs site Indeed, the number of jobs listed hit a fresh record high in the firsthalf of November, up 142% since the start of the pandemic:
The tight labour market has prompted more employers to turn to sign-on bonuses, which tripled over the past year and is up 14-times since October 2019:
In October, 0.8% of job postings on Indeed’s Australia site explicitly contained the expression signing bonus or a similar phrase in job descriptions. That’s almost three times higher than a year ago and 14 times higher than in October 2019, before the pandemic. Until COVID-19 hit, a signing bonus was rarely part of a recruiter’s toolkit and largely irrelevant for most occupations and industries.
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
