After correction for seasonal effects, 127 thousands jobs were vacant by the end of June 2009, i.e. 25 thousand less than at the end of March 2009. This decrease is smaller than in the two preceding quarters, when the number of vacancies dropped by nearly 50 thousand a quarter.
The most substantial drop in vacancies was observed in the private sector. The decline was particularly large in commercial services. This sector faced a cut of 16 thousand vacancies compared to the end of March. In manufacturing, construction and non-commercial services, the number of unfilled vacancies also dropped.
The vacancy rate is indicative of the degree of shortage on the labour market. It is defined as the number of vacancies per thousand jobs. By the end of June, there were 17 vacancies for every thousand jobs, nearly half of one year previously. The most substantial decline occurred in construction. In this sector, the vacancy rate dropped from 49 at the end of June 2008 to 17 at the end of June 2009. In manufacturing and commercial services, the vacancy rate also dropped significantly.
The labour market was far less dynamic than one year previously. In the second quarter, 185 thousand new vacancies were created, i.e. down over 100 thousand on twelve months previously. This is the smallest number of newly created vacancies in half a decade. The number of filled and cancelled vacancies amounted to 202 thousand, down nearly 80 thousand on the second quarter of 2008.
Job vacancies, seasonally adjusted