SYDNEY (Reuters) – The number of job vacancies in Australia fell for the ninth straight quarter in the three months to August, with the decline broadly based across most sectors as demand for workers weakened.
Figures from the Australian Bureau of Statistics (ABS) released on Thursday showed the number of job vacancies fell by 5.2% compared with the previous three-month period, when the decline was 3.5%.
The number of job openings fell 17.1% from a year earlier to 329,900, after seasonal adjustment. That’s the lowest level since August 2021, but still 45% higher than just before the COVID-19 pandemic hit.
The number of vacancies in the private sector fell by 4.9%, while the number of vacancies in the public sector fell by 7.5%.
In 11 of the 18 sectors the number of vacancies decreased. The largest decrease occurred in the hospitality industry and industry.
The decline leaves the number of vacancies 30% below its peak, with the number of employees per vacancy rising from 1.7 to 1.9. However, that is still below the pre-pandemic level of 3:1.
Part of this is because vacancies are being filled at a rapid pace, with official figures showing the number of jobs rose by 143,000 in the three months to August.
The supply of labour has also increased significantly due to the influx of skilled migrants and foreign students, which has helped to relieve the previously very tight labour market.
(Reporting by Wayne Cole; Editing by Sonali Paul)