Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Wednesday, 20 July 2016

Job ads up 11 per cent to a four-year high

Jobs being created

A strong +1.6 per cent increase in job advertisements in June saw year-on-year vacancies rise very strongly by +11 per cent to a total of 169,600, according to the Department of Employment.

Source: Department of Employment

Total vacancies are now at their highest level in four years, which bodes well for jobs growth picking up. 

Since the peak of the mining boom June 2012, the share of total vacancies located in Western Australia has declined from 15.6 per cent to 7.8 per cent. 

On the other hand there has been a huge surge in vacancies in New South Wales over the past three years, up by 37.4 per cent in trend terms to a massive 91,400 (a record boom). 

Over the past year the percentage growth in vacancies has also been very strong in Victoria, Queensland, South Australia, Tasmania, and the ACT. 

In trend terms all eight occupation groups are strengthening, and over the year job advertisements were up in 33 of the 37 recorded regions. 

The decreases were seen in northern Queensland, Perth, and western Tasmania.

The index has its weaknesses, particularly since it doesn't differentiate between full time and part time gigs.

Nevertheless, all in all, this looks pretty good for jobs growth in the second half of 2016.