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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
Ahead of Thursday’s November employment data (bbg consensus +11.5k) it is worth looking at the latest SEEK job ads data for the same month, which posted a sharp decline of 4.3% m/m. This was the fourth straight monthly drop bringing the annual rate down to -20.2% y/y. This and the continued rise in applicants per job signal that the labour market continues to ease but with ads still over 12% higher than Q4 2019 the labour market remains tight.
- Applicants per job rose 2.9% m/m in October, the ninth consecutive increase. They are now only 0.8% below Q4 2019. Strong migration and a slowing economy are helping to boost this number and take the heat out of the labour market, which should reassure the RBA.
- The decline in job ads was widespread, across states and territories (ACT flat), except for SA, and industries. Only insurance & superannuation posted a rise. Retail & consumer products fell 7.9% m/m.
Australia SEEK new job ads 2013=100
Source: MNI - Market News/SEEK
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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