Job vacancies decline continues

DEEWR’s job vacancy report is out for December and it makes some pretty doomy reading for those New Year job prospects.

The Internet Vacancy Index (IVI) decreased by 3.5% in November 2012 in trend terms. Over the year, the IVI has fallen by 23.0% and is now at its lowest level since the series began in January 2006. The IVI fell over the year in all states and territories, with the strongest decline recorded in Queensland (down by 29.3%), followed by Western Australia (26.5%) and South Australia (25.8%). In seasonally adjusted terms, the IVI decreased by 4.7% over the month.

The Regional IVI (three month moving average) declined in all 38 regions over the year to November 2012. The strongest falls were recorded in Port Augusta & Eyre Peninsula (down by 35.5%) and Newcastle & Hunter (33.4%).

One wonders how long the official unemployment rate can continue to fend off this type of data.

DEEWR Vacancy Report December 2012

Comments

  1. “One wonders how long the official unemployment rate can continue to fend off this type of data.”

    For as long as declining participation continues to mask unemployment I guess.

    Mass layoffs are seen by everyone. Rising joblessness due to a lack of net new job creation is less obvious to the public.

  2. I think they will continue to piss in our pocket and tell us its raining and there will never be a cut off when pollies accept UE as a fact.

    “its a matter of perspective” insert yr voice of political spin here.

    I think that much as we are starting to reject REIVs data andstaents off hand. The governments stats will be held as complete trash, at which point the emperor will be seen as the fat naked buffoon.

    • Go easy on the Christmas punch there willy – rising unemployment is political poison for governments.

      As is breaking too many promises. They promised a surplus and have thus hitched their political wagon to delivering one.

      Or attempting to at least. I don’t think their chances are great – government doesn’t really control the budget outcome. We the private sector largely determine it through the great aggregation of our spending and saving decisions.

    • Diogenes the CynicMEMBER

      If the economy is “strong” (Swan’s favourite phrase) why would unemployment rise?

      • It probably wouldn’t (and it looks clear to me that the economy is not particularly strong) but the question is – why would any government want unemployment to rise?

        First rule of leadership – everything that happens is your fault. Rising unemployment is toxic to governments. Off the top of my head, I think only Keating managed to win “the unwinnable election” in a time of serious unemployment, probably because his opponent was so inept.

      • It probably wouldn’t (and it looks clear to me that the economy is not particularly strong) but the question is – why would any government want unemployment to rise?

        Higher unemployment is better for businesses – keeps wages down and workers quiet.

  3. Good point Willy

    Didn’t he flag a UE level of a nats nacker under 6% were all bets of the surplus were off?

    A sort of get out of jail free card.

    Obviously the RE fraternity will be shaking in their Brown shoes

    • I think he said at 5.5% all bets are off for a surplus. I would expect that he knows the public service contraction will have impact soon. UE will go up and he will do what most of the economy wants, ditch the surplus for political gain. He wins out from a bad situation.

  4. Keep them skilled immigrants coming. Not sure what we’ll do with ’em but keep ’em coming anyway!

    • Keep them skilled immigrants coming. Not sure what we’ll do with ‘em but keep ‘em coming anyway!

      I think they will fill the gaps that can not be filled with ex convicts, long term unemployed, junkie bogans with no skills and no drive.

      • Its a sad state of affairs regarding skilled immigrants of which I am one. I know a lot of people in senior positions that just dont want to hire Aussies and would rather pay the cost of bringing someone from overseas. Maybe it needs an unemployment crises for a large section of locals to take their jobs seriously.

        since I came here in Sep 2010 I have had a constant flow of offers. There are jobs there but if you have a reputation as a lazy arsed hangover sick day utilising moocher then you will get overlooked.

      • Yeah, a new tat and a sixpack and they won’t even notice their future being sold down the river by the traiterous swine running the show. At least they look the part of the poor white trash of Asia.