Australia job vacancies climb to fresh record in Feb quarter

[SYDNEY] Job vacancies in Australia climbed to their highest on record in the three months to February, a seventh straight quarter of solid gains that augured well for continued growth in hiring.

Total job vacancies rose a seasonally adjusted 4.3 per cent to 220,900 in the Dec-Feb quarter, from 211,700 in the previous quarter, data from the Australian Bureau of Statistics showed on Thursday.

That was the highest reading since the series began in 1979 and left vacancies a hefty 19.3 per cent higher than a year earlier.

Vacancies in the private sector rose 4.2 per cent to 201,500, again the highest on record. That was up 20.7 per cent on the previous year.

Analysts look at the vacancies series as it has proved a reliable leading indicator of labour demand and turning points in employment growth.

The strength in vacancies gels with official figures for employment, which showed a surge in jobs over the past year or so, and points to further strength ahead.

REUTERS