ONLY CHARTS #245
Aus job ads, Aus consumer spending, Aus engineering construction
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1. The number of new job ads posted online in Australia fell 2.5% m/m in December according to Jobs & Skills Australia (which includes SEEK data), reaching the lowest level since August 2021.
Measures of new job ads (IVI, SEEK) have been weaker than stock measures (ANZ, ABS) in recent months.
This could reflect that it is taking longer to fill vacant roles.
The relative weakness in new job ads, however, could also indicate that stock measures will re-soften in the near-term.
2. Measures of Australia’s job vacancy rate, however, have flattened out or fallen in recent months, consistent with some stalling in labour market deterioration, at least for now.
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