Are you finding it easier to find staff for your small business? You may not be alone. According to recent data from the Australian Bureau of Statistics (ABS), the job market has seen a notable shift. In August 2023, there were 390,000 job vacancies, a decrease of 38,000 from May 2023.
The demand for workers eased for the fifth consecutive quarter, coinciding with a rise in the unemployment rate. However, the labour market remains tighter than pre-pandemic levels, with vacancies still 72% higher than February 2020.
With fewer job vacancies and a lower demand for workers, your small business might find it easier to attract qualified candidates at the moment as there is less competition from other employers.
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