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Dark side of the boom
PETER MARTIN
April 2, 2010
VICTORIA has become one of the toughest places in Australia to find a job, despite creating full-time jobs at a blistering pace of more than 200 a day.
The paradox is revealed in the latest job vacancy survey from the Bureau of Statistics, which found there were 33,000 positions vacant in February, but 171,000 people looking for work - equating to an average of 5.1 potential applicants for each job.
Only in Tasmania were things worse for job seekers, with 6.7 competing for every vacancy.
Victoria shared honours for the second toughest market with Queensland, which has five unemployed for each vacancy. New South Wales was better, with 4.3 potential applicants for each job, and Western Australia was way out in front with only 2.5 unemployed per vacancy.
While the figures appear gloomy for Victorians, they could also be seen as a sign of prosperity. ''Victoria and Queensland look bad in part because people are moving there looking for jobs,'' said labour market specialist Mark Wooden, of the Melbourne Institute.
''Traditionally it's been Queensland's problem. People move there because they like the weather and opportunities. It's had strong employment growth offset by even stronger population growth.
''That's how it's becoming in Victoria. Our vibrant economy is drawing people in. You could look at it as a good problem to have. In South Australia, by contrast, people are leaving, making it easier for those who remain to find jobs.''
But with many people moving interstate for work, Professor Wooden said the figures were not straightforward. ''We will see people from Melbourne and Sydney flying to Western Australia to get mining jobs, and people from Perth flying to get mining jobs as well.''
The job vacancy survey, which the bureau has reinstated after a two-year absence, differs from other jobs survey because it samples all employers, rather than just those who advertise.
Despite the resources boom, only 5000 of Australia's 107,000 job vacancies were in mining, with the biggest category being ''administrative and support services'', with 20,000 vacancies.
In the past six months the number of full-time jobs in Victoria has jumped by 36,500 - more than any other state.
The latest figures show Australia's unemployment rate steady at 5.3 per cent, its lowest rate in a year and well below the budget forecast of 8.5 per cent.
The Reserve Bank board will meet on Tuesday to consider interest rates, with about half of 19 forecasters surveyed by Reuters expecting a quarter of a percentage point rise, which would take the cash rate to 4.25 per cent and the standard variable mortgage rate above 7 per cent. Trade figures for February, released yesterday, showed exports falling 1 per cent and imports rising 2 per cent.
PETER MARTIN
April 2, 2010
VICTORIA has become one of the toughest places in Australia to find a job, despite creating full-time jobs at a blistering pace of more than 200 a day.
The paradox is revealed in the latest job vacancy survey from the Bureau of Statistics, which found there were 33,000 positions vacant in February, but 171,000 people looking for work - equating to an average of 5.1 potential applicants for each job.
Only in Tasmania were things worse for job seekers, with 6.7 competing for every vacancy.
Victoria shared honours for the second toughest market with Queensland, which has five unemployed for each vacancy. New South Wales was better, with 4.3 potential applicants for each job, and Western Australia was way out in front with only 2.5 unemployed per vacancy.
While the figures appear gloomy for Victorians, they could also be seen as a sign of prosperity. ''Victoria and Queensland look bad in part because people are moving there looking for jobs,'' said labour market specialist Mark Wooden, of the Melbourne Institute.
''Traditionally it's been Queensland's problem. People move there because they like the weather and opportunities. It's had strong employment growth offset by even stronger population growth.
''That's how it's becoming in Victoria. Our vibrant economy is drawing people in. You could look at it as a good problem to have. In South Australia, by contrast, people are leaving, making it easier for those who remain to find jobs.''
But with many people moving interstate for work, Professor Wooden said the figures were not straightforward. ''We will see people from Melbourne and Sydney flying to Western Australia to get mining jobs, and people from Perth flying to get mining jobs as well.''
The job vacancy survey, which the bureau has reinstated after a two-year absence, differs from other jobs survey because it samples all employers, rather than just those who advertise.
Despite the resources boom, only 5000 of Australia's 107,000 job vacancies were in mining, with the biggest category being ''administrative and support services'', with 20,000 vacancies.
In the past six months the number of full-time jobs in Victoria has jumped by 36,500 - more than any other state.
The latest figures show Australia's unemployment rate steady at 5.3 per cent, its lowest rate in a year and well below the budget forecast of 8.5 per cent.
The Reserve Bank board will meet on Tuesday to consider interest rates, with about half of 19 forecasters surveyed by Reuters expecting a quarter of a percentage point rise, which would take the cash rate to 4.25 per cent and the standard variable mortgage rate above 7 per cent. Trade figures for February, released yesterday, showed exports falling 1 per cent and imports rising 2 per cent.
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