Unemployment to rise as small businesses slash recruitment

Leith van Onselen

Wednesday 17 July 2024

The latest SEEK employment data suggests that Australia’s job market may have hit a tipping point.

The number of job ads reported on SEEK fell by 1.5% in June to be tracking 36.2% below their peak.

The number of applicants per job ad surged by 3.0% in May (latest available) to be up 61.6% over the year.

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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.