Job vacancies – and company failures – rise

The number of job vacancies in Australia has risen sharply over the past year, even though business and consumer confidence have both fallen over recent months.

The Australian Bureau of Statistics reported today that the nation had a total of 183,600 vacancies at the end of May, a rise of 9 per cent, in trend terms,  over the previous 12 months.

Despite the Rudd government’s cost cutting, public sector vacancies have risen more steeply over that time than those in the private sector.

The number of public sector job vacancies throughout Australia leapt by 10 per cent in the 12 months to the end of May.

However, the bureau’s figures do reflect some slowing in the rate of job vacancy growth, over recent months.

The total number of job vacancies open rose by just 1.1  per cent on trend figures between February and May this year.

Other figures, released by the Australian Securities and Investments Commission today also reflect a substantial rise in company failures.

ASIC noted that there were 7,562 insolvencies reported in 2006-07.

That compares with 6,745 in the previous 12 months.