Hiring conditions are cooling unevenly – but certainly not collapsing.
ABS data shows job vacancies fell 0.2% in the November 2025 quarter and were 5.2% lower than a year earlier. That suggests easing demand, but context matters.
Vacancies are well below the mid-2022 peak, yet remain high by historical standards, meaning competition for skilled staff hasn’t disappeared.
Where the change is happening
Across the 18 industries tracked, vacancies fell in seven industries quarterly and 13 industries annually.
This points to selective hiring rather than widespread retrenchment.
Why lenders care about labour trends
Staffing costs shape:
- Margin stability.
- Confidence to expand.
- How lenders assess cash-flow resilience.
If you’re planning growth or new hires in 2026, get in touch and we can factor labour costs into your funding plans before you commit.