May job ads close to March peak but pool of workers still not utilised

06 June 2022

 

Summary:  Job ads up 0.4% in May; 17.3% higher than same month in 2021; close to March peak, “significant unmet demand for labour”; “substantial pool” of unutilised labour supply; ads-to-workforce ratio steady at 1.7%, consistent with low jobless rate. From mid-2017 onwards, year-on-year growth rates in the total number of Australian job advertisements consistently exceeded 10%. That was until mid-2018 when the annual growth rate fell back markedly. 2019 was...

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