Job vacancies in Australia remain high despite quarterly decline

According to the Australian Bureau of Statistics (ABS), job vacancies in Australia declined by 1% or 7,000 in February 2023 from November 2022, marking the third consecutive quarter of declining job vacancies. Despite the decline, job vacancies remain high, with a total of 439,000 vacancies in February 2023. The decline was seen in both the private and public sectors, and in most states and territories, except for New South Wales, which recorded the largest percentage quarterly growth of 9%.

Source: Australian Bureau of Statistics

The percentage of businesses reporting at least one vacancy also fell for the first time in six quarters, down from 28% in November 2022 to 24% in February 2023. However, this was still more than double what it had been in February 2020 (11%). The Accommodation and food services and Arts and recreation services industries continued to have high job vacancies, with vacancies around three to four times what they were before the pandemic.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com