Job vacancies have dropped by 2.7 percent, while total household wealth jumped by the same rate, according to recent Australian Bureau of Statistics (ABS) data.
The latest release showed job vacancies dropped by 2.7 percent in the three months to August, while total household wealth grew by $470.1 billion (2.7 percent) in the June quarter.
ABS Head of Labour Statistics Robert Long said there were 327,200 job vacancies in August, similar to six months ago.
“Although job vacancies rose in the three months to May, they fell again in the three months to August,” Mr Long said.
“Private sector job vacancies drove this quarter’s movement, falling by 3.4 percent, while Public sector vacancies went up by 2.2 percent, which was the fourth increase in a row.”
ABS Head of Finance Statistics Dr Mish Tan said the growth in household wealth was driven by strong asset price growth, particularly in residential dwellings and superannuation balances.
Dr Tan said the value of residential land and dwellings increased 1.9 percent, or $205.2 billion.
“This was the largest contributor, adding around 1.2 percentage points to the growth in household wealth,” she said.
Dr Tan said house prices were up 1.4 percent in the June quarter 2025, following flat growth in the March quarter.
“Annual growth in house prices has slowed to 3.5 percent, down from 7.4 per cent in the year to June 2024.”
