Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Wednesday, 27 January 2016

Ads up again

Job advertisements improve

The latest data from the Department of Employment shows jobs vacancies up by +1.1 per cent in December and a solid +9.4 per cent over the calendar year 2015, to a seasonally adjusted 166,200.

In a short summary:

Between them New South Wales, Victoria, and Queensland accounted for some 81 per cent of the vacancies, which bodes well for imminent employment growth in those three most populous states.

The picture elsewhere is soft, with the internet vacancy index (IVI) showing vacancies down over the year in most other states and territories (and the ACT up on a small sample size).

In terms of sectors the biggest percentage gains in vacancies were for medical practitioners and nurses (+31.5 per cent), and transport & design professionals and architects (+24.1 per cent).

At the national level, then, a solid +9.4 per cent seasonally adjusted increase keeps things moving in the right direction, which is in keeping with Ross Gittins' view that the labour market will likely continue improving steadily in 2016, with the economy expected to have a decent year.

That said, the survey is still tracking some 46 per cent below previous peaks, so there is a long way for this recovery to run.