New South Wales, Victoria driving changes to job ad volumes: report
The decline of Australian job ads "intensified" in the second quarter after recording its fifth consecutive drop in June, ANZ-Indeed data revealed on Monday.
ANZ-Indeed Australian job ads went down 2.2% month-on-month in June, and 17.6% year-on-year.
"The pace of declines in ANZ-Indeed Australian Job Ads has intensified, with the series down 7.1% q/q in Q2 compared to three per cent q/q in Q1," added ANZ economist Madeline Dunk in a statement.
"Despite this continued moderation, the level of Job Ads is still well above pre-pandemic levels."
The decline in ANZ-Indeed job ads was mostly reported in Victoria and Western Australia, according to Callam Pickering, Indeed senior economist.
The drops in these states offset the gains recorded in New South Wales and Queensland.
"Overall, around 85% of the annual decline in job ads was driven by New South Wales and Victoria. Labour market conditions elsewhere are proving more resilient," Pickering said in a statement.
The senior economist added that the drop was also driven by lower demand for cleaners, tradies, and food service workers.
"Over the past year though the decline in job ads has been relatively broad-based, with Job Ads down in 86% of occupational categories," he said in a statement.
