DEEWR job ads fall to new low

So, DEEWR job ads hit a new seasonally adjusted (down 6.6%) and trend (down 1.8%) low in July:

The Internet Vacancy Index (IVI) decreased by 1.8% in June 2012 in trend terms. Over the year, the IVI has fallen by 12.6% and is now 45.3% below the March 2008 peak. Despite the national decline over the year, Western Australia recorded an increase in vacancies (up by 1.6%).

Growth in the Regional IVI (three month moving average) over the year to June 2012 was recorded in five of the 38 regions. The strongest increases over this period were recorded in Pilbara & Kimberley (up by 13.8%) and Goldfields & Southern WA (7.5%). The two strongest falls were recorded in Bathurst & Central West NSW (down by 30.3%) and Hobart & Southeast Tasmania (26.7%).

Here’s the chart:

And the weakness is broad based across industries and states:

Looks like DEEWR is a skeptic.

Vacancy Report July 2012

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.