June 28, 2018 / 1:45 AM / 2 months ago

Australia job vacancies jump 5.7 pct in May qtr

SYDNEY, June 28 (Reuters) - Job vacancies in Australia jumped to all-time highs in the three months to May, notching up an eighth straight quarter of gains that augured well for continued growth in hiring.

Total job vacancies climbed a seasonally adjusted 5.7 percent to 236,000 in the March-May quarter, from an upwardly revised 223,300 in the previous quarter, data from the Australian Bureau of Statistics showed on Thursday.

That was the highest reading since the series began in 1979 and left vacancies a steep 24 percent higher than a year earlier.

Vacancies in the private sector rose 5.7 percent to 215,400, again the highest on record. That was up 25.7 percent on the previous year.

Analysts value the vacancies series as it has proved a reliable leading indicator of labour demand and turning points in employment growth.

The marked pick up in vacancies could thus herald a revival in jobs growth after a slowdown early in the year. (Reporting by Wayne Cole Editing by Darren Schuettler)

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