Labour market remains relatively tight, ABS says

The news: Job vacancies fell slightly in the quarter to November, coinciding with a slight rise in unemployment and indicating a relatively tight jobs market, according to the ABS.

The numbers: There were 389,000 job vacancies in November, down 3,000 or roughly 1% from August figures. The figures came after an 8% drop in the previous quarter. It was the sixth consecutive quarterly drop in job vacancies, which are now 18% lower than the May 2022 peak but still 71% above pre-pandemic levels of February 2020.

What they said: "The slow fall in the number of job vacancies from its peak also coincided with recent increases in the unemployment rate," the ABS said in a statement. "However, both continue to suggest that the labour market remains relatively tight."