ANZ says their Australian Job Ads plummeted in May, but recovered strongly in the last week of the month, indicating much of the decline for the month as a whole was due to the April ‘holiday year effect’ and the timing of the election.
In seasonally adjusted terms, job ads fell 8.4% m/m and 14.9% y/y. This is
the weakest monthly result since Jan-2010 and the steepest annual fall since 2013. In trend terms, job ads fell 1.8% m/m and 10.1% y/y.
There is an alignment it seems between the employment growth and ANZ job ads growth.
