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Job vacancies hit record highs

But don’t expect a pay rise as a result ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The laws of supply and demand say higher demand leads to higher prices. So what about in Australia’s labour market, where demand (from employers) is outstripping supply (of applicants)?

The job vacancy rate is now at record levels – higher than at any time since the Australian Bureau of Statistics started tracking job vacancies in the late 1970s. But don’t expect wages to rise as a result, writes labour market economist Jeff Borland.

The pandemic has produced some peculiarities that Jeff outlines today. His conclusion: overall wages growth will only come through concerted cooperation between the government and central banks to get the unemployment rate below 4%.

Job vacancies hit record highs 2

Tim Wallace

Deputy Editor: Business + Economy

Job vacancies hit record highs 3
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Australia has record job vacancies, but don’t expect it to lead to higher wages

Jeff Borland, The University of Melbourne

Even now much of the recovery in employment seems to be happening without big wage increases.

Job vacancies hit record highs 5

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Tracy Burrows, University of Newcastle; Megan Whatnall, University of Newcastle

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Job vacancies hit record highs 6

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Preparing young people for their future requires teachers to be climate change educators, but the federal government has resisted its inclusion in the curriculum. It’s up to states to take the lead.

Job vacancies hit record highs 7

Zareth Long undertaking controlled burn in Birriliburu Indigenous Protected Area, WA. Annette Ruzicka, Bush Heritage Australia

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Why rely on unproven technologies when we can store carbon and cut emissions through Country-based and nature-based solutions?

Job vacancies hit record highs 8

Panoramic view of the Batavia ship exterior oak planking. Patrick E. Baker/Western Australian Museum

We studied the tree rings of the Batavia shipwreck timbers – they told us much about global seafaring history

Wendy van Duivenvoorde, Flinders University; Aoife Daly, University of Copenhagen; Marta Domínguez Delmás, University of Amsterdam

Archival records of Dutch timber trade before 1650 are rare or lost. But the wooden timbers of the Batavia contain many secrets.

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