Job vacancies fall down under

The number of job vacancies in the private and public sectors fell in the three months leading up to May 2012, new figures have suggested.

According to the Australian Bureau of Statistics, the total number of new employment opportunities in the quarter stood at 172,500, which was a 6.1 per cent reduction compared with the corresponding period in 2011.

This also represented a 2.6 per cent drop on the preceding three months and is something of a surprise considering the country's economy is performing relatively well.

Recent government figures showed the nation was doing better than many economists had predicted.

However, there are still a lot of Aussies who are suffering from hardships, mainly because of the excessive cost of living.

Certain Australian cities – such as Sydney and Melbourne – are among the least affordable places to live in the world and some people who are lucky enough to have savings accounts have had little choice but to raid them to cover everyday living expenses.

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