Broadly flat in June:
ANZ-Indeed Australian Job Ads fell 0.2% m/m in June after an upwardly revised 2.0% m/m rise in May. In trend terms, the series lifted 0.4% m/m and is up 0.9% in annual terms.
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ANZ Economist, Aaron Luk, commented:
ANZ-Indeed Australian Job Ads was broadly steady in June and is 0.5% higher through the year. Both the Australian Bureau of Statistics’ Job Vacancies and our job ads series have eased by about 28% since late 2022 but remain significantly higher than before the pandemic.
The labour market rebounded in May, with the unemployment rate easing to 4.4% and employment rising by a strong 40.3k. However, employment in April was revised to a 40.7k fall, leaving employment essentially flat over the past two months. Hours worked also fell 1.1% m/m, the largest decline since June 2025.
Looking ahead, we expect the economy to slow as a result of higher interest rates, a housing market slowdown and uncertainty associated with the Middle East conflict. We expect labour demand to gradually ease, which should see job ads trending lower and the unemployment rate edging higher.
Indeed Senior Economist, Callam Pickering, commented:
Growth in Job Ads was mixed in June. They climbed the most in Tasmania, but gains were also solid in South Australia, Queensland and Victoria. New South Wales declined, after a strong May result, while Western Australia fell considerably. Despite that, Western Australia remains the strongest market compared to a year ago.
Retail, food preparation and management subtracted the most from Job Ad growth in June. That was offset by stronger demand for nurses and real estate professionals. In transport and driving occupations, Job Ads stabilised in June for logistics-related roles, but driver opportunities continue to fall.
