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SEEK has released its Employment Report for April, which shows that job ads continue to fall while applications per job ad continues to soar on the back of strong labour supply growth (read immigration).
Job ad volumes decreased 1.4% in April and are 19.1% lower year-on-year. However, they remain 24.7% higher than pre-COVID levels:
The year-on-year fall in job ads has been particularly large across NSW and Victoria, which is receiving the lion’s share of overseas migrants:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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