Australian Job Vacancies Decline in February 2024, but Still Higher Than Pre-Pandemic Levels

Australia, Police

Article: According to the latest figures from the Australian Bureau of Statistics (ABS), job vacancies in Australia experienced a decline in February 2024.

The data reveals that there were 364,000 job vacancies during this period, which is down by 24,000 compared to November.

This marks the seventh consecutive quarterly drop, with job vacancies falling by 6.

November 2023 and February 2024.

While job vacancies are now 23.

May 2022, they still remain significantly higher than the pre-COVID-19 levels, with an increase of 59.

February 2020.

This suggests that the employment market has shown resilience despite the ongoing impact of the pandemic.

The ABS’s Labour Account data also highlights that job vacancies continue to comprise a higher proportion of jobs in the labor market than usual.

In the December quarter of 2023, job vacancies accounted for 2.

The decline in job vacancies was observed across various industries.

The most significant falls were seen in Arts and recreation services (-33.

Public administration and safety (-20.

However, some industries experienced growth in job vacancies, including Rental, hiring and real estate (20.

Financial and insurance services (17.

While job opportunities decreased in most states and territories, Queensland saw the largest percentage drop (-11.

New South Wales (-10.

Conversely, South Australia experienced a rise of 8.

Although the recent decline in job vacancies underscores some challenges in the labor market, it is important to note that job opportunities in many industries remain higher than pre-pandemic levels.

This is particularly evident in customer-facing industries, such as Arts and recreation services, and Accommodation and food services.

The ABS expresses its gratitude to Australian businesses for their ongoing support in participating in surveys, which helps provide valuable insights into the employment landscape.

As the country navigates the post-pandemic recovery, monitoring job vacancies will continue to be crucial in understanding the health of the job market and identifying areas for growth.