Jobsdb’s 2024 Annual Data: Average Job Applications per Advertisement Soars over 80%
· In 2024, jobseekers are showing a significant increase in their desire to find employment, with the average number of views per job advertisement on Jobsdb’s platform rising by 30% year-on-year, and the average number of job applications per advertisement surging by 81%.
· The frequency of job applications has soared, with the number of candidates submitting over 100 applications per month increasing by 93%.
· Job advertisements that welcome graduates are receiving, on average, 13% more applications compared to overall job postings, indicating heightened competition in the graduate job market.
· Jobseekers are increasingly favouring job advertisements that specify a salary range, with such postings attracting nearly 20% more applications than those without salary information.
· “Relocation” has emerged as a popular search term on Jobsdb’s platform in 2024, with search volume rising by 124% over the past year. Among all age groups, those aged 21-25 are searching for this term the most frequently. Jobsdb by SEEK, Hong Kong’s leading employment marketplace, released its latest 2024 annual employment data. The average number of applications per job advertisement on the platform has surged by 81% compared to 2023. Simultaneously, the frequency with which jobseekers submit applications has increased significantly, with the number of candidates submitting over 100 applications per month rising by nearly twofold (+93%) year-on-year. This reflects a more proactive mindset among jobseekers compared to last year and indicates heightened competition in the job market. “Relocation” has emerged as a popular search term on the platform, with search volume soaring by 124% over the past year. This trend highlights jobseekers' eagerness to explore overseas work opportunities in search of destinations that align better with their career aspirations.
Average Number of Applications per Job Advertisement Increases by 81%
Job Application Frequency Hits New Heights
While the overall recruitment market in 2024 has slowed, employers are adopting more cautious hiring strategies, resulting in a 10% year-on-year decline in the total number of job advertisements in the market. Notably, job advertisements specifically seeking to hire fresh graduates have dropped by 37%, which could indicate a slower job market and a preference for candidates with relevant work experience.
Despite this trend, jobseekers are showing an increasing desire to change jobs and are proactively submitting more applications to enhance their chances of success. The average number of views per job advertisement on the platform has risen by 30% year-on-year, while the average number of applications has surged by an impressive 81%, indicating a sustained high level of job-seeking activity. Competition among graduates has intensified significantly, as job advertisements encouraging fresh graduates received 123% more applications on average compared to the previous year, surpassing the average applications for overall job postings by 13%. As the volume of job applications increases, the frequency with which jobseekers submit applications has also escalated. The number of candidates submitting over 100 applications per month has nearly doubled (+93%) year-on-year. The sectors with the greatest growth include “Marketing and Communications”, “Banking & Financial Services”, “Information and Communication Technology”, “Administration and Office Support” and “Accounting”. This trend indicates a strong job-seeking intent among professionals in these fields, as they proactively pursue new career opportunities.
Bill Lee, Managing Director, Hong Kong, Jobsdb by SEEK, said, “In 2024, jobseekers demonstrated a more proactive approach in pursuing more suitable employment opportunities. As the overall increase in job applications heightens the competitiveness of the job search, it becomes imperative for individuals to distinguish themselves amidst a sea of candidates. Enhancing the visibility of one's personal profile is key. By regularly updating their profiles on recruitment platforms, individuals can refine the platform's AI capabilities to more precisely recommend job openings aligning with their qualifications. Moreover, we encourage jobseekers to incorporate industry-specific keywords and relevant skills in their CVs to make an impression on employers and enhance their chances of securing interviews.”
Increased Salary Transparency in Job Advertisements Leads to Higher Applications for Salary-Inclusive Job Posts
Data indicates that jobseekers are increasingly favouring positions that specify salary ranges in the advertisements. Job postings that include salary information attract 19% more applications than those that do not. Over the past year, the proportion of job advertisements disclosing salary ranges has risen by 10 percentage points, reflecting a growing trend among employers to meet candidates’ expectations for greater salary transparency.
While the overall number of job advertisements has slowed in 2024, there remains significant recruitment demand in certain sectors. The three areas experiencing the strongest growth are “Community Services and Development” (+63%), “Real Estate and Property” (+21%) and “Healthcare and Medical” (+18%). Furthermore, the five most sought-after roles are in “Information Technology”, “Administration & Office Support”, “Accounting”, “Banking & Financial Services” and “Engineering”.
“Relocation” Becomes a Popular Search Term as Jobseekers Increase Interest in Hybrid Work Models
In 2024, “Relocation” has emerged as a highly sought-after search term on the platform, with search volume rebounding by 124% after an 18% decline in 2023. This impressive increase reflects a growing desire among jobseekers for overseas work opportunities.
Notably, jobseekers aged 21 to 25 exhibit the highest level of interest, followed by jobseekers aged 26 to 30. This trend highlights a burgeoning interest among younger jobseekers in overseas relocation, as they aim to broaden their international perspectives and acquire valuable experience through relevant work opportunities.
The trend of “working overseas” transcends Hong Kong and is now in sync with global talent employment patterns. A global employment report, “Decoding Global Talent 2024 – Mobility Trends”, released by Jobsdb together with Boston Consulting Group and The Network last year, surveyed over 150,000 individuals from 180 countries. It revealed that a significant 25% of global talent actively seeks opportunities abroad, with Hong Kong talent notably inclined towards short-term overseas job positions of one to three years. Their primary motivation for seeking international roles stems from a desire for overall career advancement.
Bill Lee, Managing Director, Hong Kong, Jobsdb by SEEK, said, “Despite the growing popularity of remote work arrangements, jobseekers worldwide remain keen on exploring opportunities beyond their local landscapes. Following the platform unification undertaken by SEEK, Jobsdb and Jobstreet in January last year, candidates can now seamlessly search and apply for roles across eight Asia-Pacific markets on Jobsdb. To navigate this evolving trend successfully, we suggest jobseekers to first understand the work and lifestyle culture of their target destinations. By leveraging secure employment platforms, jobseekers can apply for suitable roles and clarify visa arrangements with potential employers abroad, ensuring a smoother transition and an optimal career trajectory.” #########
About Jobsdb by SEEK
Jobsdb is a leading employment marketplace, connecting the right people with the right work in Hong Kong since 1998. Operated by SEEK, an Australian Securities Exchange-listed company, Jobsdb combines its deep local expertise with SEEK’s world-class AI technology and platform to create relevant job and talent matches across Asia Pacific. For more information, visit www.jobsdb.com