Job Vacancies Post Record Drop

The Australian Bureau of Statistics announced that the number of job vacancies in the country has dropped to its 30-month low last November.

The total job vacancies last November 2012 was recorded at 166,800. This is 6.9 percent lower compared to the August data.

The Australian Bureau of Statistics said only 154,500 job vacancies in the private sector, some 6.9 percent lower compared to August data. This is also the lowest number since May 2010.

In the public sector, some 12,300 vacancies were posted in November. The figure is 7.5 percent lower compared to August 2012 and close to 30 percent lower compared to 2011 data. The Australian Bureau of Statistics said this is the lowest level since February 2004.

The data also revealed that there were 26 vacancies for every 100 people who are categorized as unemployed in November 2012. This implies that that the labor market has continued to be weak since 2009.

Compared to 2008 before the global financial crisis occurred, statistics said there were 38 job vacancies for every 100 people unemployed.