Job ads down 15.3% since January 2024: ANZ-Indeed data
Job ads declined 2.1% in August, extending the decreasing trend of job postings for the seventh consecutive month in Australia, according to the latest data from ANZ-Indeed.
The decline recorded in August is slightly smaller than the decrease from the upwardly revised 2.7% fall in July and marks a 15.3% drop in job postings since January 2024.
Annually, job ads were down 22.9% year-on-year but remained 11.4% higher than the 2019 average.
"Part of the decline in the series (which measures total job ads rather than new job ads) is likely due to workers finding jobs," said ANZ economist Madeline Dunk in a statement.
The decline in job ads came as unemployment in Australia inched up to 4.2% in July, with the participation rate hitting a record 67.1%.
"The downward trend in job ads and the move upward in the unemployment rate suggest that labour supply and demand are moving towards balance," Dunk said.
Meanwhile, Indeed senior economist Callam Pickering said job ads continued to fall across most states.
Western Australia, Victoria, and Queensland led the drop in job ads, offsetting even the gains registered in South Australia and Tasmania, according to Pickering.
"The 22.9% decline in job ads over the past year has been concentrated in New South Wales and Victoria, with more modest falls elsewhere," he added.
By sector, job ads went up in retail trade, education, as well as food preparation.
"For retail trade, August marks the beginning of the Christmas hiring period, with opportunities set to rise sharply over the next few months," he said.
