The boom in Aussie jobs growth is poised to continue.
And that’s great for our economy and the property markets.
Jobs vacancies really are booming now, up to a seasonally adjusted 203,700.
Vacancies are by +15.4 per cent year-on-year, and now sit at the highest level on record.
Overall, really strong numbers here, suggesting that the present rate of employment growth – at about +325,000 over the year to August – will continue over the year ahead.
Jobs vacancies tend to be a decent indicator of what’s to come, at least in the immediate future, and with vacancies now approaching 1.6 per cent of the labour force, an improvement in the unemployment rate looks like a shoo-in.
Reduced mortgage stress should therefore also follow over the year ahead as the unemployment rate falls and wages rise.
Very much an upbeat data release for Australia.
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