Job vacancies have normalised
Job ads fell -2.8 per cent in May 2025 according to the government's figures via Jobs & Skills Australia.
Vacancies are now -12.7 per cent lower than a year earlier, and close to their 4-year lows.
Source: Jobs and Skills Australia
Although vacancies are still around 20 per cent higher than they were in 2019, the resident population has grown, while some new trends have also changed labour force dynamics.
For example, the labour force participation rate is tracking at all-time highs, while there has been an ongoing shift towards holding multiple jobs.
When calculated as a share of all jobs, online skilled vacancies are all the way back down to where they were in the pre-pandemic period.
Job vacancies have fallen sharply over the past year in Victoria (-10,600 or -18.8 per cent), while New South Wales vacancies are down significantly (-7,600 or -11.1 per cent).
This morning at 11.30am the ABS releases the latest labour force figures, with the unemployment rate expected to hold at 4.1 per cent for now, but with slack steadily increasing.
In other news, the UK inflation rate eased a little to 3.4 per cent.
While Canada and the Eurozone have seen respective inflation rates fall to below 2 per cent over the year to May, the UK has grappled with extraordinarily high energy costs following some questionable policy choices over recent years.
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