Australia’s workforce shortages are often discussed as a local problem. Not enough workers. Too many vacancies. Too much pressure on employers. That is only part of the picture.
The latest International Labour Market Update from Jobs and Skills Australia shows a broader global trend. Labour markets are softening in many advanced economies.
Vacancy growth has eased in countries such as Canada, the United Kingdom and the United States. Unemployment remains relatively low across much of the OECD (The Organisation for Economic Development and Cooperation), but the pressure is shifting.
Australia sits in a different position.
The report shows indexed job vacancies declined in most selected economies through 2025 and into 2026. Australia was the exception.
