Callam Pickering, senior economist at global jobs site Indeed, has updated his weekly job postings series, which illustrates how Victoria’s hard lockdown is stalling the nation’s jobs recovery.
New job ads – i.e. those on Indeed AU for seven days or less – have plummeted in Victoria since the beginning of Melbourne’s lockdown, but are rebounding elsewhere:
According to Pickering:
There is a 31% gap for Victoria against last year’s trend, while the gap elsewhere has completely closed.
Early in July, Victoria was tracking only slightly behind the rest of Australia, which likely reflected the slower lifting of restrictions there. Now the gap is huge and likely to get larger as ‘stage 4’ reduces economic activity.
In a similar vein, total job postings in Victoria are tracking 45% below last year’s trend, whereas they are down 27% across the rest of Australia:
The gaps will only widen as Melbourne enters stage 4 restrictions and regional Victoria enters stage 3.