ABS job vacancies give false hope

The Australian Bureau of Statistics (ABS) has released job vacancies data for the November quarter, which recorded a 1.7% seasonally adjusted rise in the number of vacancies over the quarter but a 0.4% decrease in trend terms:

Over the year, job vacancies fell by 0.9% in seasonally adjusted terms and by 2.3% in trend terms.

NSW (+9.7%) drove the rise in job vacancies in the November quarter:

This is lagging data of course. More timely data from ANZ, released yesterday, shows steep falls in job ads:

Leith van Onselen

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