Australian Job Vacancies Fall as Private Sector Hiring Demand Cools

Australia's job vacancies fell in the three months to August as private sector demand for workers weakened.

The Australian Bureau of Statistics said there were 325,000 job vacancies in August, down 0.9% from May on a seasonally adjusted basis and 1.3% lower than a year earlier.

Private sector vacancies fell 2.0% to 286,300, while public sector vacancies rose sharply by 7.8% to 38,700.

This decline in private sector hiring demand follows the Reserve Bank of Australia's latest interest rate increase and adds to signs that the labour market is gradually cooling down.

The figures show a longer retreat from the extreme labour shortages seen after the pandemic, with total vacancies now 31.2% below their May 2022 peak of 472,700.