The number of employment ads in Australia has dropped by almost 30 percent since a post-pandemic peak in late 2022.
The latest ANZ-Indeed Job Ads data showed a decline of 2.1 percent in total job ads in August.
ANZ Economist Madeline Dunk said the series had fallen 29.8 percent from its peak in November 2022, but was still 11.4 percent above pre-pandemic levels.
She said the August drop was the seventh consecutive month to be down, with the series down 15.3 percent so far in 2024.
“Yet employment has risen by 318,000 in 2024 and six-month average employment growth is running at its strongest pace since late 2022.”
Ms Dunk said part of the decline in the series, which measured total job ads rather than new job ads, was likely due to workers finding jobs.
“Labour supply is pushing higher, with the participation rate hitting a record 67.1 percent in July.”
She said the female participation rate lifted to a new peak of 63.2 percent, while the male participation rate was the highest since January 2016 at 71.2 percent.
“The downward trend in Job Ads and the move upward in the unemployment rate suggests that labour supply and demand are moving towards balance.”
