A nice bounce in the Jobs Vacancies data today from the ABS, consistent with a stronger New South Wales economy ahead.
Jobs vacancies nationally recorded a nice 2.1% seasonally adjusted bounce in the May quarter, implying better times ahead for the economy (click image):
As ever, though, I'd implore readers to consider the data at a more localised level.
Doing so reveals a continuing strong upturn in the New South Wales market, but certain challenges in the mining states, in Queensland and WA in particular.
Jobs vacancies are up by more than a third since May 2013 in New South Wales after having dived in 2012/13, which suggests to me that the state's economy is starting to fire up (click chart):
The chart essentially shows the total number of job vacancies recovering steadily after confidence took a bit of a shellacking 2011-2013 as debt crises shook global markets.
Incidentally, the gap in the chart is not an error - at least, it isn't on my part.
The Australian Bureau of Statistics suspended the Jobs Vacancies surveys in FY09/10 due to funding being slashed.
Overall, another small piece of the jigsaw which adds a little further weight to my case of NSW being Australia's star economy of the decade.