More jobs lie vacant in Australia

According to the latest ANZ jobs survey, the job advertisements in local newspapers and on internet peaked by 4.4% in September, the fastest rate since November 2007. The job advertisements on internet and on papers were 8.7% higher than July. Compared to all, the rate was over all lower than this year.

The survey figures revealed that the number of job ads in major metropolitan newspapers jumped 3.7%, following a 5.5% rise in August, to a weekly average of 8,929. Meanwhile, internet job ads climbed 4.5% in a second consecutive month of growth to a weekly average of 127,141.

Addressing to the same, ANZ acting chief economist Warren Hogan said in a statement, "These data provide the best evidence we have received to date that the labour market (and the economy more generally) is entering an early recovery phase following this downturn. Further he added, "Australian economic activity has been remarkably resilient in recent months, particularly in some of our largest employing industries such as retail trade, health services, government and construction."

The employment requirement data also sheds some insight on the present job scenario in Australia. The data raises speculation as the Reserve Bank of Australia was to raise interest rates at a policy meeting, with Hogan since the figures also give hope for unemployment figures. Speaking on which he said, "Today's numbers confirm our expectation that the pace of decline in employment will not be as severe as envisaged six months ago”. "We expect the Australian unemployment rate to peak at around 7.25% in mid-2010."


Meanwhile, the latest Olivier Job Index found the number of jobs advertised in Australia rose 3.58% in August. Full-time work was up 3.4% and part-time work up 5.3% in the last month, the report found. With the new jobs opening up in the market at a higher speed, the Australian govt is encouraged to support skilled immigration. The regional areas of Australia still need to be developed while the metropolitan areas like Melbourne and Sydney witnesses’ higher unemployment ratio. As more and more jobs lie vacant, Australia would need people from around the globe who could fill in the spots.

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