Job Vacancies in Australia Decline for Ninth Straight Quarter

SYDNEY (Reuters) – Job vacancies in Australia fell for a ninth consecutive quarter in the three months ending in August, with declines observed across most industries as labor demand cooled.

Data released by the Australian Bureau of Statistics (ABS) on Thursday indicated that vacancies decreased sharply by 5.2% from the previous quarter, which saw a 3.5% drop.

Job openings were down 17.1% from a year earlier, totaling a seasonally adjusted 329,900, representing the lowest level since August 2021 but still 45% higher than the period just before the COVID-19 pandemic.

In the private sector, vacancies slipped by 4.9%, while the public sector experienced a 7.5% decline.

Overall, vacancies fell in 11 of 18 industries, with the most significant percentage declines occurring in accommodation and food services, as well as manufacturing.

This decline left vacancies 30% below their peak, with the number of workers per job opening increasing to 1.9 from 1.7, although this remains below the pre-pandemic ratio of 3:1.

Some of the decrease can be attributed to vacancies being filled rapidly, as official figures reported employment rising by 143,000 in the three months leading to August.

Moreover, the labor supply has been significantly bolstered by a surge of skilled migrants and foreign students, contributing to the easing of what had been a very tight labor market.