Job vacancies in Australia rose 2.9% in May

Job openings in Australia saw a recovery in May, largely fueled by the construction industry and professional, scientific, and technical services. As reported by Reuters, this reflects a continued demand for labor in the country, even amid a sluggish economy.

According to the Australian Bureau of Statistics (ABS), the number of vacancies rose by 2.9% over the three months leading up to May, partly counteracting a 4.3% drop in the previous reporting period. The private sector experienced a 3.2% increase, while the public sector saw a rise of 0.6%.

During the said period, the total number of job openings in Australia was 2.8% lower compared to May of the previous year, amounting to 339,400. However, this represents the smallest annual decrease in the last two years.

The labor market in Australia has shown surprising strength in recent months, Reuters says. Despite slow economic growth, the unemployment rate has remained near historically low levels at 4.1%.