Job vacancy rates across the Australian Digital advertising and ad tech industries have dropped from 11.8% in July 2022 to just 4.5% in July 2023, sitting at odds with the overall unemployment rate.

This is according to the IAB Australia – 2023 Industry Talent Report, released this morning.

It’s getting harder to crack into the industry as a newcomer as well, with demand for entry level employees falling from 27% of all job openings a year ago to just 14% now.

The average salary increased by 4.2% in the 12 months to July 2023. This may be a symptom of the cooling off of entry level jobs, however this 4.2% increase lags behind both inflation and the previous year’s salary jump of 7.6%.

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Despite the fear surrounding artificial intelligence, just 10% of organisations anticipate reductions or restructuring in the next 12 months due to AI.

“The 2023 digital industry and ad tech talent market has undergone a significant shift in the last year, moving from a market that was desperate for talent last year to vacancy rates that are close to 2020 levels,” explained Gai Le Roy, CEO of IAB Australia.

“Most companies are currently focused on hiring gun talent that can drive commercial outcomes however the intent is to open more roles in coming months.”

Happily, the report also showed a substantial increase in women holding senior management roles – up from 26% in 2022 to 38% in 2023 – and pay parity across 49% of commercial roles.

“On a personal note I am thrilled with the continued growth of women in senior leaderships roles in the industry as well as so many companies following through on their intentions to introduce environmental and sustainability policies,” said Le Roy.