[News] WA jobseekers take advantage of employment boom despite economic headwinds

The report found WA was also the only state with an increase in applications per ad, up 2 per cent.

SEEK ANZ managing director Kendra Banks said WA had recorded the longest stretch of continued ad growth, attributed largely to the bounce-back of hospitality and tourism, and a significant investment in public infrastructure projects.

Despite booming inflation – which hit 7.6 per cent in Perth last quarter – and increased interest rates, the CCI survey revealed West Australians felt relatively optimistic about the state’s future.

About 50 per cent of West Australians expect economic conditions to stay the same over the next three months, while 28 per cent expect things to improve.

Morey said the abundance of jobs in WA was helping households withstand the pressure of rising prices and interest rates.

“Confidence over the coming year also improved, with two-in-five expecting conditions in the economy to strengthen,” he said.

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“It reverses the balance last quarter, when more Western Australians anticipated weaker conditions.”

Despite the optimism, trepidation was bubbling beneath the surface in WA households.

Seventy-six per cent of respondents were concerned about growing costs of living and 59 per cent were worried about the impact of global events such as the war in Ukraine.

Three out of five West Australians said rising interest rates, which increased to 0.85 per cent earlier this month, negatively impacted their confidence.

“Our survey shows two-thirds of WA mortgage-holders set to reduce discretionary spending, and half reducing essential spending if the cash rate hits two per cent,” Morey said.

“Looking forward, WA households will undoubtedly feel rising pressure from interest rates and other forces. However, significant additions to savings balances and mortgage offset accounts will hold the local consumer economy in good stead.”

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