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Vacancies Off Peaks But Holding Up

AUSTRALIA DATA

ANZ-Indeed job ads rose 0.4% m/m in July, the highest monthly increase since January, after falling 2.7%. They now stand 8.6% below a year ago and 10.3% below their Q3 2022 peak but are still 48.5% above the February 2020 level. ANZ says that hiring remains “quite challenging” but increased labour supply and lower vacancies are slowly helping to alleviate skill shortages. Labour demand is easing and off its 2022 peaks but remains strong, as we have seen in the employment data, and will continue to be monitored closely by the RBA.


ANZ-Indeed job ads level

Source: MNI - Market News/Bloomberg

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