Vacancies soar
Job vacancies continued to rise in the February quarter, up another 6.9 per cent to a record high of 423,500.
Several Aussie states posted record job vacancy numbers.
There has been some friction in hiring, partly related to COVID restrictions and mandates, and the reopening of the international borders will help in time.
However, 423,500 represents a massive 3 per cent of the labour force, and implies further declines in the unemployment rate ahead.
With only 1.33 unemployed persons per job vacancy, pay rises should also lie ahead for employees.
