Job vacancies declining
Job vacancies declined by a further -5 per cent over the 3 months to November, down to a still elevated 444,000.
Job vacancies remain at or close to historic highs in Queensland and South Australia, but are easing in Sydney and Melbourne as roles are now being filled.
The number of unemployed persons ticked up from 484,000 to 492,000 in November, but conditions are still very favourable for those seeking work.
Total job vacancies remained elevated last year, but the labour force is also expanding rapidly, up by well over 400,000 over the year to November, to a record high of 14¼ million.
It's possible that we haven't yet seen the lowest unemployment rate for this cycle, but we're close to it, as construction and trades work begins to slow down.
Somewhat old news, here, but evidently there will still very high numbers of retail and hospitality vacancies in particular in November.
As far as I have been able to tell at the Sunshine Coast, these required roles have now largely been taken up by working holiday makers, students, and other new arrivals, and things are coming nicely back into balance as immigration ramps up.
