Australian Job Ads +0.4% m/m in May

Inflation in Australia is surging:

• Australian monthly inflation gauge comes in at +1.1% m/m (prior -0.1%)

Job ads continue to grow to according to this ANZ survey, showing +0.4% m/m (prior -0.5%). ANZ commentsL

• It remains close to the March peak, indicating significant unmet demand for labour. But Australia’s labour market is not as tight as in some other economies.