Friday, June 27, 2008

It's raining jobs here in the ACT

...if nowhere else.

The ACT is officially Australia’s jobs paradise – the only state or territory in which there are more jobs on offer than people available to fill them.

The latest job vacancy figures released by the Bureau of Statistics show there were five jobs on offer for each four Canberra residents unemployed in May – making the ACT by far the tightest labour market in the country.

By contrast in the two so-called ‘boom’ states of Queensland and Western Australia unemployed people outnumbered vacant jobs two to one.

In NSW and Tasmania unemployed residents outnumbered vacant jobs three to one, and in South Australia, five to one.

The news came as the number of vacancies nationwide soared to a new record high. There were 183,600 jobs vacant in May, more than double the number vacant four years ago...

Vacancies climbed by 3.4 per cent in the three months to May, with private sector vacancies were up 3.6 per cent and public sector vacancies up 1.2 per cent.

Nationwide there are just 2.6 unemployed people vying for every vacant job – a near record low.

In the ACT the number of vacant jobs exceeds the number of people wanting them. There are 5,600 vacant jobs for 4,618 unemployed residents.

CommSec economist Savanth Sebastian said the results suggested that the recent rate hikes had not succeeded in slowing employers demand for workers.

“There are plenty of opportunities for workers in the current environment, if they have the right skills. And with the skilled migration boom picking up pace the unemployment rate is like to remain not far from the recent record lows in coming months,” he said.

The news will enable the ACT government to claim that although the Territory’s economic growth is the lowest in the nation, for the moment it remains the easiest place in which to find work.

The vacancies survey released yesterday will be the Bureau’s last.

The Bureau of Statistics has axed the survey in order to find $22 million in savings in order to cope with budget cuts.

Reference: "It's Raining Men" by Paul Jabara and Paul Shaffer, 1979