Statistics indicate country's labour market 'loosening'
The number of job ads in Australia remained steady in September despite posting a slight decline from the previous month, according to figures from ANZ-Indeed.
ANZ-Indeed Australian Job Ads dipped by 0.1% month-on-month in September, after increasing 1.9% in August.
According to the report, job ads fell 8.2% from the September 2022 peak, but remains 51.4% higher than pre-pandemic levels.
‘Remarkable staying power’
Madeline Dunk, ANZ economist, described the number of Australian job ads as "steady" despite the slight decline.
"The series has demonstrated remarkable staying power recently and has lifted 2.2% over the last three months," Dunk said in a media release.
Over the past three months, job ads have increased in almost half of occupational sectors, according to Indeed senior economist Callam Pickering.
"The overall increase in Job Ads has been concentrated in education and healthcare, specifically therapy, doctors and nurses," Pickering said in a statement. "Even retail has rebounded a little owing to strong Christmas hiring. Gains in these areas have offset ongoing weakness in tech and food preparation."
'Loosening' labour market
Meanwhile, Dunk said the current labour market statistics indicate that the situation is "loosening."
"While things are still tight, the underemployment rate has been creeping upwards, the unemployment rate has risen to 3.7% and hours worked fell in August," Dunk said. "This continued cooling of the labour market should help temper any future gains in Job Ads."
Previously, the Australian Bureau of Statistics said the labour market remains "tighter than it was before the COVID-19 pandemic," citing the job vacancies during period between May and August.
According to the ABS, job vacancies in August are still 72% higher than pre-pandemic levels despite going down for the fifth straight quarter.
