A new report by PricewaterhouseCoopers has revealed Australia’s advertising industry has one of the largest economies in the developed world.
The Pricewaterhouses View report also found Australia had the largest proportion of jobs in Australia in a country of 2.2 million people, or about 8 per cent of the world’s population.
PwC also found that the number of job advertisements posted each day was the highest in the western world, followed by the US.
Australia also ranked second behind the US in the proportion of advertising posts with at least 100 words in the English language.
Australia’s job advertisement industry is booming, the report found.
The Australian Bureau of Statistics data showed there were an estimated 12,000 job advertisements per day, compared to the US’s average of 3,400 jobs per day.
PwS also found the job advertisements were used to promote Australia’s business interests, while it said there were some instances of a negative impact on jobs and economic outcomes.
“Employers use advertisements as a way of communicating their business interests and their willingness to hire,” the report said.
“It can also help employers and applicants understand the business climate and other pertinent data to understand their prospects for employment.”
PwP found there were 2.6 million job ads posted in Australia each day.
According to the study, advertising in Australia was the most common form of business information used by employers.
Pew Research found that while the United States had the most jobs posted in the country per capita, Australia had about half of the jobs posted per capita.
It found that of the top five most popular jobs advertised in Australia, there were more than four times as many jobs advertised per capita in the United Kingdom, and over two times as much in the US as in Australia.
“While we’re still in the early days of the digital era, Australia is already the most digital economy in the G7, with over a quarter of all jobs online, compared with the UK, and the world average of just over one in 10 jobs,” the study said.
In the United State, a job posted online was a highly successful way of attracting and retaining talent, with a large number of employers offering job postings via social media, email, text messages and social networking sites.
Pawel Wielgosz, president of the Australian Council of Trade Unions, said he welcomed the data.
“A lot of people are trying to find jobs in the digital economy,” he said.