ANZ job ads crash

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No surprise:

Job Ads dropped more than 10% in March, the largest monthly fall since January 2009, during the GFC. Most of the fall occurred over the second half of March as Australian COVID-19 cases escalated, restrictions on movement tightened, and shutdowns of non-essential services broadened.

There are some areas where demand for labour may have increased, including health care, supermarkets, and some parts of manufacturing and financial services. But overall, demand for labour is likely to pull back further as the shutdowns continue.

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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.