Jobsdb’s latest 2023 annual data shows post-pandemic job seeking resurgence; average applications per job ad soar by 37%

2023 job market showed increased activity and enthusiasm as more jobseekers actively pursued job opportunities, leading to a 37% year-on-year increase in average job applications per advertisement. Meanwhile, the travel and frontline sectors outperformed the market in recruitment demand. 
Median tenure of employment was shortened to 19 months, marking a 14% year-on-year reduction. Among individuals entering the workforce for the first time, on the other hand, maintained a median tenure of employment of 14 months. 
There was a growing desire among jobseekers for cross-regional job opportunities. The number of overseas applicants with qualified working visa has risen by 37% compared to pre-pandemic levels in 2018. Concurrently, Hong Kong workers were expressing a greater interest in overseas work opportunities, such as business travel and international exchanges, as evidenced by a 54% year-on-year increase in average job applications for relevant keywords.
(23 January 2024, Hong Kong) Jobsdb, Hong Kong’s leading employment marketplace by SEEK, released its latest annual employment platform data. Compared to the robust performance of the hiring industry in 2022, the job market showed a gradual slowdown in 2023, with an overall decline of 10% in the number of job advertisements. However, our platform recorded a remarkable 37% year-on-year rise in the average number of job applications per advertisement, indicating a renewed enthusiasm among jobseekers in Hong Kong, as they actively pursue employment opportunities.
In parallel, there was a growing influx of foreign talent seeking job opportunities in Hong Kong, as reflected in a 37% increase in the number of overseas applicants with qualified working visa compared to pre-pandemic levels in 2018.
Furthermore, Hong Kong’s jobseekers showed a heightened desire to explore overseas work opportunities, including business travel and overseas assignments. Job advertisements containing keywords such as “overseas job opportunities” and “willingness to travel” witnessed a significant 54% year-on-year increase in average job applications. Cross-regional talent mobility has emerged as a global trend.
Average job applications per advertisement surge by 37%; Frontline positions outperform the five major industries
In 2023, Hong Kong saw a notable recovery following the pandemic. According to our employment platform data, while there was a slight slowdown in the overall number of job advertisements in the market, the revival of economic activities has strengthened jobseekers' confidence and expectations. They actively sought out their desired positions, resulting in a significant 37% increase in the average number of job applications per advertisement compared to 2022 on our platform. Jobseekers remained highly engaged in the market.
The top five industries with the highest recruitment demand remained consistent, including “Corporate Sales and Business Development”, “Information Technology”, “Administration and Human Resources”, “Banking/Finance” and “Accounting”. Meanwhile, frontline industries such as tourism, food and beverage, and beauty sectors continued to demonstrate robust demand for talent. Notably, the “Hotel and Catering” as well as the “Beauty and Wellness” industries achieved remarkable growth, with a year-on-year increase of 9% and 8% in job advertisements respectively. These growth rates surpassed those of the major industries, highlighting the strong performance of the frontline recruitment market.
Hong Kong workers switch jobs on average every 1.5 years; More employees raise their expectations for company benefits
In the past year, jobseekers in Hong Kong have not only shown a proactive approach to finding employment but also demonstrated a higher frequency of job changes. Our latest employment platform data shows that the median tenure for employees has significantly shortened to just 19 months, marking a 14% decrease compared to 2022. This indicates that a majority of workers considered switching jobs within a span of less than two years. Among the 18-25 age group, the job-hopping frequency remained consistent, with a median tenure of 14 months.
As the socio-economic landscape gradually rebounded, employees have raised their expectations for company benefits and work arrangements. In 2023, popular keywords in job advertisements prominently included “hybrid work model” (+154% year-on-year), “remote work” (+48% year-on-year) and “double salary or bonus” (+55% year-on-year). Job advertisements featuring these keywords received a substantially higher number of applications from jobseekers, with respective yearly increases of 59%, 72% and 47%. Consequently, the competition among job seekers for desirable positions intensified.
Bill Lee, Managing Director, Hong Kong of Jobsdb by SEEK, said, “In 2023, the overall social atmosphere in Hong Kong was on the upswing, and employees have heightened expectations for their respective companies. They anticipated improvements in employee benefits and remuneration. However, if their current positions or industries failed to meet their desired level of employee benefits, they would undoubtedly take the initiative to actively seek alternative jobs that can fulfill their individual needs and aspirations. As a result, the job market was more active compared to previous years, and jobseekers should proactively equip themselves to secure their desired positions. As employers, it is crucial to regularly review relevant benefit policies and take proactive measures, such as fostering a positive work environment and culture, providing enhanced training opportunities for employees, to attract and retain talent. These actions will further ensure the company's competitiveness in the recruitment market.”
Rise in Hong Kong workers' interest in overseas job experience; Cross-border talent mobility emerges as a global trend
Hong Kong enterprises are employing various strategies to attract talent from around the world, while foreign professionals are actively seeking job opportunities in the city. Our employment platform data reveals that the number of overseas applicants holding qualified work visas has risen by 37% compared to pre-pandemic levels in 2018. Additionally, searches for related keywords such as “welcome overseas applicants”, “foreigners welcomed”, “working visa holders” and “overseas experience” have increased by 26% annually, indicating a growing interest among foreign talents in working in Hong Kong.
Moreover, job opportunities abroad, including business trips and overseas assignments, are highly attractive to local workers. Job advertisements featuring keywords like “overseas job opportunities” and “willingness to travel” have experienced an average annual increase of 54% in the number of applications received. Among Hong Kong permanent residents, searches for such positions have increased by 18% yearly. This trend suggested that an increasing number of local workers aspired to gain personal experience and broaden their horizons through working abroad.
Bill Lee added, “As economic activities regain momentum worldwide, global enterprises are actively vying for talent. This creates more job opportunities, both locally and internationally, and also fueled an increased desire among professionals to seek career development abroad. Moreover, amidst the current recovering job seeking sentiment, jobseekers are more willing to step out of their comfort zones and explore employment prospects in other markets. We anticipate that high global talent mobility will continue to be a prominent trend."
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About Jobsdb by SEEK
Jobsdb is the leading employment platform in Hong Kong and Thailand, helping people live more fulfilling and productive working lives and helping organisations succeed. It is a subsidiary of SEEK, a diverse group of companies comprised of a strong portfolio of online employment, educational, commercial and volunteer businesses. SEEK is listed on the Australian Securities Exchange and has a strong presence across the APAC region, including six Asian markets – Hong Kong, Indonesia, Malaysia, the Philippines, Singapore and Thailand – through the Jobsdb and Jobstreet brands. SEEK attracts over 500 million visits a year in Asia.

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