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Sydney, July 1: If you are struggling to find a job and need one fast to meet the rising cost of living, know that the Australian Bureau of Statistics (ABS) has recorded more than 480,000 job vacancies available in the month of May alone and that is a whopping 58,000 vacancies more than what was recorded in the previous month.
What is even more perplexing is why these numbers of vacancies have not yet been filled by the over 750,000 Australian jobseekers living month to month on meagerly welfare payments known to many here as the dole.
“The number of job vacancies rose by 14 per cent over the three months to May this year, to almost half a million jobs,” Bjorn Jarvis, head of Labour Statistics at the ABS said.
“This reflected increasing demand for workers, particularly in customer-facing roles, with businesses continuing to face disruptions to their operations, as well as ongoing labour shortages.”
In addition to a higher number of vacancies, the percentage of businesses reporting at least one vacancy also increased.
“A quarter of businesses reported having at least one vacancy. This rate was more than double the pre-pandemic level in February 2020 (11 per cent), which highlights the extent to which businesses are finding it more difficult to find staff.
“The large growth in vacancies through the pandemic has coincided with a decline in the number of unemployed people.
“As a result, there was almost the same number of unemployed people and vacant jobs in May (1.1 unemployed people per vacant job), compared with three times as many people before the start of the pandemic (3.1).”
The largest growth in job vacancies was in Victoria, which increased by 18 per cent over the three months to May, followed by New South Wales (12 per cent).
While job vacancies were considerably higher than before the pandemic in all industries, the extent of quarterly growth varied between industries.
The industries with the highest growth in vacancies over the quarter were Retail trade (38 per cent), Information media and telecommunications services (18 per cent) and Arts and recreation services (16 per cent).
Compono CEO Trent Innes said with many businesses struggling right now to hire and wages beginning to rise, the composition of a company’s workforce has never been more important.
“It’s not about the best candidate that can commute into the office a certain number of days per week, it’s about having access to skills to make growth possible.
“The one thing you shouldn’t compromise on when it comes to hiring is the intangibles – their attitude, willingness to learn and their ability to fit into the team culture.
“These are even more important in a remote role than an office-based one and require companies to have robust hiring processes to be able to quickly sort and assess candidates. “When you open yourself up to remote workers, the pool of available workers gets a lot bigger very quickly.
“If you’re under pressure to hire, that’s when a lot of bad hires start happening.
“Gone are the days when having staff based overseas or cross borders used to be reserved only for the senior leaders or for driving cost efficiencies with areas like customer call centres.
“To those struggling to hire, there’s a simple message is to take the lesson from the pandemic seriously.
“Utilise the global workforce to your advantage and fulfil your talent shortages.”
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