Job Vacancies
The number of job vacancies is a measure of the excess demand for labour.
A large number of job vacancies is consistent with an economy in a growth
phase with employers confident about the future. A small number of job
vacancies is consistent with an economy in recession with employers more
pessimistic about the future.
Job vacancy statistics
Statistics showing job vacancies within the economy are never as complete
as other labour force statistics because many vacant jobs are filled by
word of mouth processes or by processes which include only those people
currently employed by an enterprise. Nonetheless changes in the number
of job vacancies is a useful indicator of future changes in employment.
There are three main sources of job vacancy statistics-the Australian
Bureau of Statistics (ABS), the Department of Employment, Education, Training
and Youth Affairs (DEETYA) and the ANZ Banking Group.
ABS Statistics
The ABS job vacancy series is based on a quarterly survey of approximately
4 800 employers chosen to provide adequate State and industry representation.
The ABS defines a job vacancy as a job available for immediate filling
at the time of the survey and for which recruitment action had been taken.
Vacancies for jobs only available to persons already employed by an organisation
are excluded. This point is particularly relevant to the Australian Public
Service and the public services of the States and Territories.
Excluded also are vacancies of less than one day's duration; to be filled
by persons already hired, or by promotion or transfer of existing employees;
to be filled by employees returning from leave or after industrial dispute;
not available for immediate filling; not available within the State or
Territory to which the survey return relates; for work to be carried out
under contract; and for which no effort is being made to fill the position.
All vacancies for wage and salary earners are represented in the survey
except those in the Australian permanent defence forces; in businesses
mainly engaged in agriculture, forestry and fishing; in private households
employing staff; in overseas embassies and consulates; and located outside
Australia.
Figure 1 shows ABS seasonally adjusted job vacancy figures for the period
from May 1979 to August 1997.
DEETYA Skilled Vacancy Survey
The DEETYA Skilled Vacancy Survey (SVS) is a monthly survey that provides
an indication of relative demand for 16 skilled occupational groups. The
SVS is based on a count of vacancies advertised in the major metropolitan
newspaper of each State and the Northern Territory..
ANZ Employment Advertisement Series
The ANZ Employment Advertisement Series measures the average weekly number
of job advertisements in Australia's major metropolitan daily newspapers.
Because it is not based on a mathematically rigorous statistical survey
technique, this series cannot be considered to be as accurate or all-encompassing
as the ABS job vacancy series. However this deficiency is minimised if
analysis concentrates on monthly and annual percentage changes rather
than on absolute numbers.
This series does have the advantage that it is compiled monthly and hence
gives a more frequent snapshot of the demand side of the labour market.
In addition this series is timely; it is published within days of the
end of the month to which it refers. In contrast the ABS job vacancy series
lags six weeks behind the quarter to which it refers.
Figure 2 shows the seasonally adjusted ANZ Employment Advertisement Series
since January 1975.
MESI Table 1.7
Monthly Economic and Social Indicators Table 1.7 shows:
- the monthly seasonally adjusted ANZ Employment Advertisement
Series; and
- annual percentage changes.
Monthly data are graphed to show the movement in the series over the
past few years.
This feature was prepared by Greg Baker.
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