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Highlights
Job vacancies rise after previous quarterly decline, led by skilled industries
Construction and professional services record strongest vacancy increases
Employers emphasise agility and productivity amid ongoing labour tightness
Australia’s job market recorded a rebound in the May quarter, with the latest figures from the Australian Bureau of Statistics pointing to renewed momentum across skilled sectors. This recovery follows a previous slowdown and aligns with recent hiring demand in key industries represented within the All Ordinaries index.
While overall vacancy numbers improved, the growth was uneven across regions and sectors, reflecting underlying economic dynamics.
Construction and Technical Services Drive Hiring Uptick
The construction sector led the latest upswing in job advertisements, followed closely by professional, scientific, and technical services. These industries experienced a notable lift in vacancies, underscoring strong labour demand in areas requiring specialised qualifications.
The rise in vacancies across these two sectors was significant enough to reverse the decline from the previous quarter, signalling resilience among businesses dependent on skilled labour and project development pipelines.
Mixed Trends Across Remaining Industries
While eight out of 18 industries recorded vacancy growth, several sectors experienced contractions. Wholesale trade and utilities-related services posted marked decreases. The transport, postal, and warehousing sector appeared to stabilise, and manufacturing showed signs of steady hiring activity.
Meanwhile, administrative and support services returned to levels seen before the pandemic period, suggesting a broader normalisation in employment trends for certain categories.
Labour Market Conditions Remain Tight
The unemployment-to-job-vacancy ratio inched up slightly, indicating the labour market remains tight despite some easing in demand. This measure continues to sit well below pre-pandemic benchmarks, pointing to high hiring interest even as some employers express productivity concerns.
Labour market data remains a key input for policymakers assessing inflation trends, and current vacancy levels are being closely monitored alongside wage growth dynamics.
Regional Growth Shows Disparities
Job vacancy growth showed regional variation, with the Australian Capital Territory and South Australia recording notable increases. In contrast, Western Australia and the Northern Territory saw declines, reflecting regional economic pressures and labour supply factors.
Such variations highlight the uneven nature of labour market recovery and point to distinct business conditions impacting local job creation across the country.
Hiring Confidence Returns Despite Caution
Hiring momentum appears to be building across segments of the economy. However, employers are demonstrating caution, focusing on flexibility and cost control, particularly among small and medium-sized enterprises.
Roles offering casual and entry-level arrangements are on the rise, signalling a focus on operational agility. At the same time, productivity concerns have emerged, with limited gains in hours worked per employee.
