Australian job advertisements experienced a slight decrease in December, according to the ANZ-Indeed Australian Job Ads series. The data indicated a 0.5 per cent month-on-month fall, following a revised 1.5 per cent drop in November. The trend series also declined by 0.9 per cent, representing the smallest monthly fall in the past six months. According to ANZ economist Aaron Luk, job ads were down 7.8 per cent over the six months leading to December, with Queensland and Victoria experiencing the most significant weakness.
Callam Pickering, senior economist at Indeed, noted that New South Wales underperformed in December, offsetting gains seen in Victoria and Western Australia. Queensland and South Australia remained broadly unchanged. Seasonal hiring in sectors such as retail, sales, and food preparation eased throughout December. Conversely, modest gains were observed in logistics, beauty and wellness, engineering, and medical roles.
The unemployment rate held steady at 4.3 per cent in November. Full-time employment figures experienced a decrease of 56,500, while hours worked remained flat. The data suggests a continued tightness in the labour market.
According to available data, the Q4 average unemployment rate is likely to be just below the Reserve Bank of Australia’s (RBA) November forecast of 4.4 per cent, indicating a relatively stable employment landscape.
