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Monday, 11 April 2016

NSW hits highest job vacancies on record

Job vacancies rise strongly

Wrote this days ago and forgot to post it!

Good news as Job Vacancies increased solidly by +2.7 per cent in the February quarter to be up by a strong +13.4 per cent over the year, and to sit a their highest level since August 2012. 

The year-on-year change in job vacancies continues to move in the right direction, increasing by +20,600 from February 2015. 

This potentially upbeat news for employment growth, and should in theory help job seekers to find work, with the number of unemployed persons per vacancy trending down since November 2013.

NSW leads

New South Wales has been the king of employment growth of late, and this looks set to continue as jobs vacancies roared +19 per cent higher since February 2015 to sit at their greatest ever level.

The resources states have a lower volume of vacancies, suggesting more subdued employment growth.

There remains a high volume of vacancies in the retail trade sector, an industry which has experienced burgeoning employment growth over the last year. 

While there are still a fair number of construction industry vacancies around as at Ferbuary 2016, the volume is down from a year ago, suggesting that the residential construction boom is likely to peak imminently. 

New home sales were down by -5.3 per cent in February from a month earlier, which points to a similar story.

The Labour Force figures for March will be released on Thursday, with a small increase in the unemployment rate expected.