ANZ note that "ANZ Job Ads rose by a......>

AUSTRALIA: ANZ note that "ANZ Job Ads rose by a record 42.0% m/m in June,

dwarfing the previous record monthly increase of 17.7% in February 2010.

Week-to-week movements were positive as well, showing consistent improvement

throughout the month. This is not overly surprising, given that COVID-19

restrictions continued to ease across most of Australia during June. SEEK noted

that the strongest growth in SEEK job ads has been in the hospitality and

tourism sector. This is a good sign for at least some of the 381,000 workers in

accommodation and food services and arts and recreation who lost employment

between February and May. Despite the rebound in June, ANZ Job Ads were still

41% lower than they were in February, before the pandemic began to impact the

labour market. After an initial bounce, we expect the recovery will be a lot

slower. There have been a number of recent large-scale lay-offs announced across

a wide range of sectors, including travel, retail, media, consulting, and

education."