More gloomy data for Aussie workers. Job ads are still trending lower:
ANZ-Indeed Australian Job Ads edged up 0.1% m/m in December but is down 17.5% from the November 2022 peak. NSW and Vic experienced much larger declines than other states/territories in 2023.
Corroborated by SEEK:
“For only the third time in 18 months, job ad volumes rose in December, up 0.5%.
The rise was supported by a 2.2% increase in demand for Trades & Services workers, specifically Labourers (5%), Welders & Boilermakers (8%) and Gardening & Landscaping roles (8%).
Hospitality & Tourism job ads, which have been on the decline since August, rose 3.7% in December, the second highest monthly rise behind Consulting & Strategy job ads, which rose 4.0%.
Applications per job ad also rose by 6.0% in November, demonstrating continued rising competition for job opportunities*.”
The last line is the kicker. Job ads versus applications show that despite the high job ads, unemployment is on the march:
Wages growth is caput.
