Businesses are crying out for workers, new data reveals

Fresh data reveals just how desperate businesses are to fill vacant positions. The dire situation is having a damaging effect on the economy.

Businesses are crying out for workers as they struggle to fill almost half a million jobs on offer as of May.

Fresh data from the Australian Bureau of Statistics reveals the number of available jobs has more than doubled pre-pandemic levels.

There are now almost as many unemployed people as vacant jobs – 1.1 for every vacancy.

ABS head of labour statistics Bjorn Jarvis said the number of job vacancies rose by 14 per cent, or 480,000, over the three months to May 2022

The number of job vacancies has skyrocketed. Source: ABS

An additional 58,000 jobs were added between February and May this year. The number of firms reporting vacancies also doubled.

“This rate … highlights the extent to which businesses are finding it more difficult to find staff,” Mr Jarvis said.

The largest growth in job vacancies was in Victoria, which increased by 18 per cent, followed by NSW (12 per cent).

A quarter of business are reporting a job vacancy. Source: ABS

Mr Jarvis said the demand reflected the ongoing labour shortages as businesses continue to face disruptions to operations.

But growth has varied between industries, he said.

Retail and trade (38 per cent), information media and telecommunications (18 per cent) and arts and retraction services (16 per cent) had the highest jump in vacant jobs over the quarter.

Australian Chamber of Commerce and Industry chief executive Andrew McKellar said the figures indicated the skills crisis was “only getting worse”.

“Workforce shortages are holding back business and holding back the economy,” he said.

“Crisis-level skill shortages come at a time where unemployment is at its lowest in 48 years and consumer demand is strengthening. Businesses are finding there just aren’t enough people to fill jobs.”

He called on the government to take “swift action” to ensure firms had access to the workers they need.

Originally published as Businesses are crying out for workers, new data reveals