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The DEEWR job vacancy report for October (which covers September) is out and offers pretty dour reading, falling 3.7% in trend terms and 7.7% in seasonally adjusted terms. The index is now at its lowest level since January 2006. Here’s the chart:
And the components:
Plus the states, with only NT holding up:
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This index has been more bearish than the comparable ANZ study for a number of months. Markets ignored it. Nonetheless, this is a poor outcome and should not be completely dismissed.
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.
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