Australian job ads continue to improve

Callam Pickering, economist at global jobs site Indeed, has release his weekly job postings update, which shows that new job postings – i.e. those on Indeed AU for seven days or less – are now tracking only 14% below their pre-COVID level:

A month ago, new job postings were tracking 46% lower.

Moreover, total job postings on Indeed are now tracking 39% below last year’s trend. A month ago the gap was 50%:

 

Meanwhile, ANZ has released its job ad series, which also showed improvement:

ANZ Job Ads rose by a record 42.0% m/m in June, dwarfing the previous record monthly increase of 17.7% in February 2010…

Despite the rebound in June, ANZ Job Ads were still 41% lower than they were in February, before the pandemic began to impact the labour market. After an initial bounce, we expect the recovery will be a lot slower. There have been a number of recent large-scale lay-offs announced across a wide range of sectors, including travel, retail, media, consulting, and education.

And the rise in new COVID-19 cases in Melbourne and return to lockdowns in several postcodes also pose a risk to the pace and timing of the recovery.

Still a long way to go before the jobs market returns to ‘normal’.

Leith van Onselen

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