ANZ-Indeed Australian Job Ads rose 0.5 per cent month on month in April, following a 0.4 per cent month on month rise in March.
In trend terms, the series was up 0.1 per cent month on month.
ANZ-Indeed Australian Job Ads is down 5.1 per cent annually but has remained stable in a tight range of 114 to 117 since June 2024.
"The ANZ-Indeed Australian Job Ads series has hovered around the 115 mark since mid-2024 and continues to point to a resilient labour market. The unemployment rate has also been stable in the past year, printing between 3.9 per cent and 4.2 per cent for the last 13 months. The March NAB Quarterly Business Survey suggests labour availability is still constrained," ANZ Economist, Aaron Luk said.
"The April RBA bulletin highlighted the significance of the ANZ-Indeed Job Ads series, with the Reserve Bank of Australia (RBA) preferencing the use of the series when forecasting the unemployment rate. The RBA is likely to cut the cash rate at its May meeting despite the tight labour market, due to the uncertain global backdrop. Global trade uncertainty is expected to impact domestic consumer and business sentiment. We now expect real GDP growth of 2.0 per cent over 2025, a downward revision from our previous forecast of 2.4 per cent. Lower economic activity will likely lead to less demand for labour, and the unemployment rate (quarterly average) is now expected to peak at 4.4 per cent from 4.2 per cent previously."
"In April, Job Ads growth was mixed across regions, with a large drop in New South Wales offset by stronger results in the other mainland states, led by South Australia and Western Australia. Queensland though has been the biggest underperformer this year, following stellar growth last year," Indeed Senior Economist, Callam Pickering said.
"Job Ads in retail rose further in April, boosted by Easter, with the industry one of the strongest performers this year. Opportunities for HR professionals also jumped in April, perhaps a sign that employers plan to ramp up their hiring activity. Offsetting those gains, Job Ads in education and food preparation & service continue to fall, weighing considerably on national growth.
