Australia’s labour market continues to power past the expiry of JobKeeper, with job postings now up 43.1% on 1 February 2020, according to Indeed:
According to Indeed’s Australian economist, Callam Pickering:
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Postings dipped slightly in early April, likely reflecting some residual seasonality from Easter, but have since surged higher. The end of the JobKeeper wage subsidy on March 28 does not appear to have any impact on hiring trends nationally…
Strong postings figures, if they persist, would point to strong employment gains in the coming months.
As shown in the next chart, recruitment activity have increased across every state and territory over the past two weeks. They are also up significantly on 1 February 2020’s levels:
Compared with last year’s baseline, postings are up 49.5% in Western Australia, 46.2% in Victoria and 45.5% in New South Wales. South Australia and Tasmania bring up the rear but are still up 20.6% and 27.9%, respectively.
Most occupations have experienced rising job postings; although hospitality & tourism postings continue to lag well below last year’s levels:
Postings for veterinary and hospitality roles remain, by far, the weakest. Veterinary postings are down 27.4% compared with February 1 last year; however, the category is relatively small and can be highly volatile from week-to-week. A bigger concern is the ongoing weakness in hospitality & tourism roles. It’s hard to see hiring in that area picking up until domestic and international travel returns to normal.
The persistent weakness across the hospitality & tourism industry highlights the lunacy of its claim that it is experiencing acute skills shortages requiring thousands of migrant workers.
The reality is that there is abundant spare capacity across hospitality & tourism.
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