Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Newcastle Herald
Newcastle Herald
National
Michael Parris

Vacancy ads hit record as jobless rate drops

Internet job vacancies in the Hunter have hit a new record high as unemployment continues to trend lower.

The National Skills Commission's Internet Vacancy Index shows the three-month moving average of Hunter jobs advertised online reached 6545 in July, the most on record.

The moving average is up 86 per cent from 3507 in July 2019, before the COVID-19 pandemic.

The numbers continue to confirm anecdotal evidence from Hunter employers that they are struggling to find staff to fill vacancies.

The Australian Bureau of Statistics estimates the Newcastle jobless rate was 2.6 per cent in July.

The city's 12-month moving average unemployment rate was 4.1 per cent, down from 4.2 per cent in June and half the pandemic high of 8.2 per cent in January 2021.

The bureau says its moving averages smooth out the volatility of the labour market survey and can be a more accurate measure than its month-by-month data.

The moving average of people in work across Newcastle and Lake Macquarie was 197,000 in July, the highest since April 2020.

The number of people in work has continued to grow each month since March 2021.

The workforce participation rate moving average, a measure of people in work or looking for it, sits at a two-year high of 65.4 per cent.

In the rest of the Hunter, the jobless rate moving average was also 4.1 per cent, down more than one percentage point since 2019 due largely to a much-reduced participation rate of 58.9 per cent.

The number of people in work was down 8000 compared with 2019.

WHAT DO YOU THINK? We've made it a whole lot easier for you to have your say. Our new comment platform requires only one log-in to access articles and to join the discussion on the Newcastle Herald website. Find out how to register so you can enjoy civil, friendly and engaging discussions. Sign up for a subscription here.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.