Australian job advertisements fell sharply in September
Australia’s labour market showed further signs of cooling in September, with the ANZ-Indeed Job Ads series posting its sharpest monthly decline since February 2024. Job ads fell 3.3% from August and were 4.3% lower than a year earlier, marking the third consecutive monthly drop.
Economists said the trend suggests labour demand continues to soften, consistent with a gradual easing in hiring intentions as economic growth slows and firms adjust to higher borrowing costs.
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The weaker job ads data point to a softening labour market, supporting the case for the RBA to maintain an easing bias into year-end. Its complicated for the RBA though, with price pressures rising.
A sustained downturn in job postings could feed expectations for rate cuts in 2025 as employment growth slows.
