Australia's job ads decreased 2.1% in May, indicating a moderating labour market; ANZ-Indeed data shows an 8.2% decline since end-2021.

Australia's job ads fell 2.1% in May, signalling a continued moderation in the labour market. ANZ-Indeed job ad data reveals an 8.2% decline since the end of last year. The latest labour force survey showed employment up 71k over the three months to May, but with a slower annual growth in hours worked (0.6% y/y) compared to May last year (5.2% y/y). Economists predict the unemployment rate will rise by the end of the year.

June 17, 2024
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