Job ads hold up. It’s supply that’s the problem

Monday 6 May 2024

ANZ-Indeed Australian Job Ads rose 2.8% in April, more than offsetting the prior month’s 1.0% fall.

Although job ads have fallen 6.6% over the year, they have tread water over the past six months, as illustrated below by Justin Fabo at Antipodean Macro:

The bigger problem for the Australian jobs market is that labour supply is growing at a rapid pace due to near record net overseas migration combined with the coming of age of Peter Costello’s Baby Bonus generation:

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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.