Job vacancies were already falling before virus

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The Australian Bureau of Statistics (ABS) has released job vacancies data for the February quarter, which recorded a 0.1% seasonally adjusted decline in the number of vacancies over the quarter and a 2.2% decrease over the year:

NSW (-1.1%), VIC (-0.7%) and QLD (-1.8%) all recorded falling job vacancies over the February quarter:

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Obviously, this data is backward looking and has little use in the current climate, with Australia facing mass unemployment.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.