The Total New Vacancies (TNV) series is a new data source from Jobs and Skills Australia (JSA) that provides quarterly estimates of the total number of new job openings across Australia.
Unlike the Internet Vacancy Index (IVI), which only captures online job advertisements, the TNV series captures a wider range of recruitment methods, including:
- Word of mouth
- Signs in shop windows
- Social media
- Newspaper advertisements
- Online job advertisements
This broader approach provides a more comprehensive view of vacancies across occupations.
Why the Total New Vacancies Series Matters
SaCSA has consulted with sector stakeholders, which revealed that employers often rely on diverse recruitment methods beyond online job advertisements to fill vacancies.
Online job advertisement practices also vary by region, industry, and occupation, making it difficult to estimate total vacancies for specific roles using the IVI alone.
The TNV series addresses this limitation by integrating IVI data with insights from employer surveys on recruitment practices. This approach captures both online and offline recruitment methods and provides a more comprehensive view of vacancies across occupations.
Comparing TNV and IVI
- Figure 1 shows an additional 81 per cent more job advertisements for all occupations nationally in May 2024. This increase reflects the additional vacancies captured through offline recruitment methods not included in the IVI.
Addressing the Gaps in Labour Demand Data and understand occupation shortages
This broader view of job vacancies across occupations allows for a more in-depth analysis of labour demand and enhances workforce planning by helping to understand shortages across occupations. For instance, if job vacancies remain high for an extended time, it may indicate a shortage of workers with the required skills, experience, or qualifications. Employers may face difficulties filling these positions, pointing to a mismatch between labour supply and demand.
Currently, the JSA Total National Vacancies (TNV) is still in an experimental stage, with data available quarterly at a more general level. In contrast, the Online Vacancy Index (IVI) offers more detailed figures, with monthly online vacancy totals available at both national and state levels.
What’s next?
The TNV series is currently in its experimental stage, and JSA is actively seeking feedback and exploring opportunities to refine and expand the data. Future improvements will focus on enhancing its usefulness in analysing labour market demand and supporting workforce planning across SaCSA’s various occupations and sectors.
SaCSA will continue to work closely with JSA to gain deeper insights and contribute to the ongoing development of the series.
Author
Laze Pejoski, Director of Insights and Planning at SaCSA, provides data-driven insights to help shape labour market strategies, migration settings, and related policy frameworks for Australia’s evolving workforce.
Shaer Fattah, Insights and Analytics Manager at SaCSA, leverages over a decade of experience in labour market analytics to develop and implement robust research methods that inform workforce policies.