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Ahead of the Australian Bureau of Statistics’ (ABS) July labour force report later today, Jobs & Skills Australia released its internet vacancy index (IVI), which fell another 3.7% in July to be 23.1% lower year on year:
Job vacancy numbers have decreased in 11 of the past 12 months, although there are still 25% more job vacancies than in the same period in 2019.
The following chart from Justin Fabo at Antipodean Macro plots the IVI series against Australia’s unemployment rate:
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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.
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