Job vacancies increased again in the 3 months to May, to a record 480,000.
That's an increase of 272 per cent from the nadir of two years earlier.
New South Wales has over 145,000 vacancies, but actually every state and territory has rebounded viciously.
The number of unemployed persons increased to 548,000 in May, but now there are just 1.1 unemployed persons per job vacancy, which represents an extremely tight dynamic (in Western Australia the skills shortages are chronic).
If those jobs could be filled before immigration ramps up, the unemployment rate would fall to under 3 per cent.
More likely there will be an acceleration of visa processing.
The boom rolls on!
