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Australia has record job vacancies, but don't expect it to lead to higher wages

Written by Jeff Borland, Professor of Economics, The University of Melbourne

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Job vacancies in Australia are at a record level. The Australian Bureau of Statistics’ job vacancy rate, measuring the proportion of available jobs currently unfilled, is now more than 2.5% – the highest level since the series started in the late 1970s.

This statistic gives weight to all the anecdotal talk about labour...

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