Pete Wargent blogspot

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

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Thursday, 29 September 2016

NSW job vacancies +19.4pc to new record

Vacancies rise to 4-year high

The ABS reported that Job Vacancies improved over the year to August 2016, ticking up by 4.5 per cent in the quarter to a total of 177,300.

Vacancies are now at a 4-year high, which bodes well for hiring. 

This represents an annual increase of +15,800 positions or +9.8 per cent.

It has become marginally easier for unemployed persons to find work on this metric, with there now being 4.1 persons per job vacancy in trend terms, well down from more than 5.1 persons per vacancy two years ago.

Where and what?

The state of New South Wales is on fire, with job vacancies booming +19.4 per cent higher over the year to an unprecedented 69,400.

Victoria (+16.5 per cent over the year to August) and Queensland (+7.8 per cent) also netted solid annual results (these data aren't seasonally adjusted). 

Mirroring what we've seen elsewhere the largest quarterly gains were in professional, technical, and scientific roles (+4,400), while there were also improvements in accommodation and food, and healthcare and social assistance. 

The wrap

An annual improvement of just under 10 per cent over the year to August to a 4-year high. 

A solid result, which suggests that market for jobs is in pretty decent nick.