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Australian job vacancies have hit a 5-year high

Photo by Tim Boyle/Getty Images

Australian job vacancies continued to grow in the three months to November, according to new data released by the ABS on Wednesday.

Vacancies increased by 2.3% to 181,000 in trend terms over the quarter, leaving them 7.3% higher than the same period a year earlier.

Not since late 2011 have there been this many vacancies reported.

Private sector vacancies increased by 2.2% to 163,500, outpaced by a 2.9% lift in public sector vacancies which rose to 17,500.

From the same period in 2015, vacancies in the public sector soared by 17.8%, near triple the increase reported in the private sector.

This chart shows the trend in job vacancies since 2009, and comes courtesy of the ABS.

In absolute terms, the figures from the ABS are similar to those reported in the separate Australian job advertisements report, released by the ANZ Bank.

In December, the bank reported that total job advertisements fell by 1.9%, reversing a gain of 1.6% in November, leaving the year-on-year increase at 3.7%, down from 6% reported previously.

Jo Masters, senior economist at the ANZ, said the despite the monthly decline, job ads rose by 0.5% in the December quarter “and in trend terms continue to rise”.

“We see the labour market as losing some of its previously strong momentum, not stalling,” she said.

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