Job vacancies march lower

Job vacancies ease

Job vacancies fell by -2.1 per cent over the 3 months to May 2026, to a total of 329,500, according to the ABS. 

This was in large driven by a sharp drop in public sector vacancies, following an earlier boom. 

At the state level, most states and territories are still seeing total job vacancies trend lower from their post-pandemic highs.

The number of unemployed persons per job vacancy rose to just above 2, to be at the highest level since February 2021 (but still at a historically low level). 

With the solid expansion in the labour force, it looks as though the unemployment rate will continue working its way higher from here, especially after a challenging Budget.

The ABS commented:

"The Financial and insurance services industry had the largest quarterly percentage drop, with a fall of 21.4 per cent. This was followed by Accommodation and food services, which was down by 16.1 per cent. "

Overall, it looks like the labour market was gradually softening in the lead-up to the Federal Budget.

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