The chart below is yet another indicator that shows Australia’s labour market is strengthening.
From Callam Pickering, economist at jobs website Indeed, it shows the number of job vacancies per unemployed and underutiltised worker in Australia based off quarterly data released from Australia’s Bureau of Statistics (ABS) earlier today.
The ratio of unemployed person to job vacancy continued to slide in the three months to May, dropping to the lowest level since November 2012.
On the surface this suggests that it’s easier for unemployed workers to find a job right now than at any point in the past five years, although it doesn’t take into account individual factors such as location or skill set required for the roles advertised.
Still, it’s a good sign, and one that fits with recent labour market indicators that are also improving.
In trend terms, the ABS said there were 189,200 vacancies reported in the three months to May, the highest level since February 2011.
That was 1.7% higher than the previous quarter and left the increase on a year earlier at an impressive 9.2%.
There were 170,500 private-sector and 18,700 public-sector vacancies reported, up 8.8% and 13.5% respectively on a year earlier.
You can follow Pickering on Twitter here.