Job listings post remarkable recovery

Callam Pickering, economist at global jobs site Indeed has updated his job postings series, which tracks the change in job listings since the COVID-19 pandemic hit early last year.

As shown in the next chart, Australian job postings have staged a remarkable recovery to be 9.7% (Victoria) and 13.6% (rest of Australia) higher than the same time last year:

Job postings are higher across every state and territory in Australia, led by WA and NT:

Meanwhile, The Australian has reported new data from the federal government confirming the strong labour market recovery.

The Department of Social Services figures show that the number of unemployed people in the government’s jobactive program has fallen by 553,433 since September, while just 274,891 people have joined the scheme. Hospitality, manufacturing and sales dominate the list of occupations that have recorded the biggest growth in jobactive placements over the last year.

Meanwhile, more than 100,000 people ceased receiving JobSeeker and Youth Allowance payments in January:

The Australian economy is bouncing back harder than anyone anticipated.

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