Job Vacancy, Australia4 February 2023
Job vacancy almost quadrupled in the two years from May 2020 (130K) to May 2022 (480K).
Even though the latest vacancy figures in November 2022 show an 8% drop from the peak, job vacancies remain at historic highs.
The tight labour market in Australia will likely only abate when net migration increases from -85K in 2021 to 235K in 2023.
Will the expected increase in net migration allow Australia to avoid a #recession in 2023?