Key facts
- Australian job advertisements increased by 1.8% in June, reaching a 12-month high.
- This rebound follows two consecutive months of decline.
- Labor demand remains elevated, with job vacancies up 2.9% in the three months to May.
- Growth in job ads was concentrated in Queensland and New South Wales.
- Job creation in May was 40,300 net jobs, and the jobless rate eased to 4.4%.
Australian job advertisements saw a notable rebound in June, increasing by 1.8% month-over-month to reach their highest level in 12 months, according to data from ANZ and Indeed. This follows two consecutive months of decline and indicates that labor demand remains elevated, despite the impact of higher borrowing costs.
The ANZ-Indeed Australian Job Ads series moved from 114.8 in May to 116.9 in June, staying within a tight range but marking the highest point in a year. Job ads are currently 15% above their decade-long averages.
Further supporting the notion of strong labor demand, the ABS Job Vacancies release showed a 2.9% increase in vacancies to 339,400 in the three months to May, primarily driven by a 3.2% rise in private sector vacancies. The unemployment rate has remained broadly stable, easing to 4.4% in May from 4.5% previously.
Growth in job ads was particularly strong in Queensland and New South Wales, offsetting declines in Victoria and South Australia. Management and sales roles saw a rebound, and software development opportunities reached their highest point since October 2023. However, opportunities in education and nursing continued to decline.
In May, the Australian economy added 40,300 net jobs.