ANZ-Indeed Australian Job Ads increased by 1.6% in September, marking the first rise in eight months.
This follows a 1.8% fall in August, which was later revised upward.
Despite being 28.1% below the June 2022 peak, job ads remain 14.3% above pre-pandemic levels.
ANZ Economist Madeline Dunk (pictured above) noted that this increase could signal a slowdown in the declining trend seen since early 2022.
Dunk highlighted the broader strength of the labor market, despite economic challenges.
“The broader labour market is looking resilient,” she said, citing a 143,000 increase in employment over the past three months.
Full-time employment has grown by more than 100,000 during this time, and underemployment remains low at 6.5%.
Participation has reached a record high, and annual growth in hours worked is at its strongest in 11 months.
According to Indeed senior economist Callam Pickering, the rise in job ads was driven by Queensland, which saw its highest job ad levels since October last year. Gains were also seen in Victoria and New South Wales.
“More than a third of the non-seasonally adjusted jump in job ads was due to the retail sector, with Christmas-related jobs ramping up throughout September,” Pickering said.
Pickering further noted that job ads increased in three-quarters of occupations in September, a significant improvement from August when only half of the sectors saw gains.
The rise in job ads indicates a broader hiring push, especially in retail as businesses prepare for the busy holiday season.
While job ads remain below their 2022 peak, the recent increase suggests a possible stabilisation in the job market.
With Christmas hiring already underway and gains spread across various sectors, Australia’s labour market continues to show resilience, supported by strong employment figures and high participation rates.
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