Australian job advertisements fall 4.6% in November: ANZ-Indeed

AUSTRALIAN job advertisements fell at the fastest pace in more than two years in November, adding to signs that the drum-tight labour market could have started easing as high interest rates cool demand.

Data from Australia and New Zealand Banking Group and employment website Indeed showed on Monday job ads fell 4.6 per cent in November from October, the biggest drop since August 2021. Ads were down 16.8 per cent from a year before, but remain 36.7 per cent higher than pre-Covid levels.

“The decline in job opportunities highlights that the labour market is cooling, and points to a further lift in the unemployment rate,” said ANZ economist Madeline Dunk.

“We expect the number of job ads to moderate as the impacts of this tightening cycle continue to show up in the labour market.” REUTERS