Fewer jobs available as tight conditions stop companies hiring

Job vacancies fell 4 per cent in June from a year earlier, the eighth straight annual decline, the Labour Department said yesterday. It said the number of vacancies fell to 6695

The annual decline is less than the 7 per cent drop in May.

The department tracks job advertisements in 25 daily newspapers and found vacancies for skilled workers fell 7 per cent from a year earlier. Vacancies for semi-skilled and elementary workers dropped 4 per cent, while vacancies for managers, professionals and other highly skilled workers were unchanged.

Vacancies have been declining from the year-earlier month since October because slowing economic growth is crimping demand for workers. Just 14 per cent of companies expected to hire staff over the next year, says a ANZ National Bank survey.

- BLOOMBERG