Job vacancies in Australia rebounded in the three months to November to hit their highest in two years, pointing to improving demand for labour. Wednesday’s data from the Australian Bureau of Statistics showed total job vacancies rose 2.6 percent in the November quarter, following a fall of 0.4 percent the previous quarter.
Vacancies of 150,400 were up 8 percent on the same quarter of 2013. Vacancies in the private sector rose 2.8 percent in the November quarter, from the previous quarter, to stand at 137,900. Public sector vacancies were unchanged at an historically low 12,500 having been hit by belt tightening by both Federal and state governments.
Analysts value the vacancies series as it has proved a reliable leading indicator of labour demand and turning points in employment. The pick up in vacancies should also help offset softness seen in some of the monthly indicators of job advertisements.