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Australia job vacancies recover from pandemic shock to hit record

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Australian job vacancies surged in the three months to November to reach an all-time high as the economy opened up from various coronavirus lockdowns, usually a reliable indicator of stronger employment growth ahead.

[SYDNEY] Australian job vacancies surged in the three months to November to reach an all-time high as the economy opened up from various coronavirus lockdowns, usually a reliable indicator of stronger employment growth ahead.

Data from the Australian Bureau of Statistics (ABS) out on Wednesday showed vacancies jumped by 23.4 per cent in the November quarter, from the August quarter, to reach 254,400.

That was up 12 per cent on a year earlier and a startling comeback from the plunge to 129,200 suffered during the May quarter when lockdowns were at their height.

Vacancies in the private sector climbed 24.2 per cent, from the August quarter, while the public sector saw a rise of almost 17 per cent. The largest gains came in the sectors hardest hit during the pandemic: arts and recreation; accommodation and food and retail trade.

The surge offers hope the labour market overall can continue its surprisingly brisk recovery, which saw the jobless rate drop to 6.8 per cent in November, from a July peak of 7.5 per cent.

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REUTERS

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