SEEK: Job ads tank in Sydney and Melbourne

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Job advertisements in Sydney and Melbourne are falling at double digit rates, prompting concern unemployment may be increasing despite cuts in official interest rates and the Morrison government’s tax cuts for low and middle income earners.

Figures to be released today by SEEK show overall job ads have fallen by 8.6 per cent over the 12 months to the end of August. There had been signs of a slight improvement in July but that was swept away through the final month of winter.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.