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Fewer businesses are recruiting staff compared to last month, according to Jobs & Skills Australia.
The latest recruitment data for May shows a 1% decline in recruitment activity compared to April. Around 47% of employers were actively hiring in May. This was 12% lower than the record-high of 59% in mid-2022.
Meanwhile, the unemployment rate also declined over the last month from 4.1% in April to 4.0% in May, according to the Australian Bureau of Statistics.
These two pieces of data together suggest that while fewer jobs are available, there is still enough demand for labour to put downward pressure on unemployment. This may reflect a more stable economic environment.
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