Vacancies rise to record

UNEMPLOYMENT is set to drop more with the amount of job openings rising to record amounts, fuelling speculation of another interest rate rise Court Reporters And The Equipments They Used In The Court Of Law  . 

National job openings in the 3 months to August rose 2.9 percent, seasonally modified, in line with the Australian Bureau of Statistics. 

Work opportunities rose by 11.9 percent in the entire year to August. 

CommSec shares economist Martin Arnold said with job opportunities now at an archive high, the unemployment rate was set to fall below 4 per cent - from its present 4.3 per cent - as bosses were encouraged by business conditions to get more staff. 

"The Australian economy is recording strong growth and business problems are essentially just like they get," he said. 

The strength of the economy light emitting diode a frustrated John Howard to express the public was failing woefully to give the government credit for economic management. 

"I think there is a view in the neighborhood... perhaps an important amount that, for somehow or still another, our economic power and our economic stability and development is occurring naturally, that the economy is on autopilot," the Prime Minister told a forum at Ocean Grove on the Victorian coast yesterday. 

He explained this was one of the explanations why the us government was faring so badly in the general public view polls: "I think people are starting to get the Australian economy for granted." 

Seasonally-adjusted work openings totalled 172,700 in the three months to August. 

Mr Arnold said there have been fewer than three unemployed people for every single empty job, the cheapest level on record. 

Business services has been among the best growth areas, with 45,200 openings, 28.4 percent greater than a year before. 

The number of jobs vacant in the communications industry has a lot more than doubled to 2800 in exactly the same period Click Movement (dot) org . 

There is strong need for labour in the transportation sectors, retail trade and construction. 

Areas that look like less desperate for staff include welcome, recreation and personal services. 

People sector is continuing to increase, with the amount of vacant jobs 11.8 per cent greater than this past year. 

In the entire year to August, job opportunities in the boom state of Western Australia were up by 31.8 per cent, unadjusted, followed by the ACT, that was up 31 per cent. 

Only Queensland had a fall, with year-on-year vacancies down 3.3 percent. 

Matthew Johnson, the senior economist at specialist ICAP, said the rise in jobs opportunities should provide employment growth of more than 2 percent. 

"This means that unemployment will probably fall lower, and that everybody else from the Reserve Bank down will continue to worry about wage-push inflation," he said. 

Large job vacancies and low unemployment is just a conventional formula for inflation, with a limit to how many positions may be filled. 

There has, up to now, been no evidence of wage inflation, with the average price of work rising largely in line with prices in the economy. The following inflation figures are published on October 24. 

UBS primary economist Scott Haslem said the growth in job opportunities would subscribe to higher inflation in the ultimate months of 2007. He believed the Reserve Bank could increase rates of interest in February 2008 to stop inflation planning above the RBA's 3 percent target range Asian Youth Aganist Tobacco Network</a> . 

Nevertheless Mr Arnold said the escalation in labour supply, via qualified migration, wouldn't produce earnings pressures.