ANZ Australian Job Ads plummeted in May, but recovered strongly in the last week of the month. We think this indicates much of the decline for the month as a whole was due to the April ‘holiday year effect’ and the timing of the election. In seasonally adjusted terms, job ads fell 8.4% m/m and 14.9% y/y. This is the weakest monthly result since Jan-2010 and the steepest annual fall since 2013. In trend terms, job ads fell 1.8% m/m and 10.1% y/y. ANZ’s Head of Australian Economics, David Plank, commented:
ANZ Australian Job Ads plummeted in May, but recovered strongly in the last week of the month.
We think this indicates much of the decline for the month as a whole was due to the April ‘holiday year effect’ and the timing of the election. In seasonally adjusted terms, job ads fell 8.4% m/m and 14.9% y/y. This is the weakest monthly result since Jan-2010 and the steepest annual fall since 2013. In trend terms, job ads fell 1.8% m/m and 10.1% y/y.
ANZ’s Head of Australian Economics, David Plank, commented:
The full text of this article is available to MacroBusiness subscribers