Summary: Job ads increase in October significant again; still 16.2% lower than in October 2019; declining fiscal support may not effect ad numbers as much as jobless numbers; implies falling jobless rate.
From mid-2017 onwards, year-on-year growth rates in the total number of Australian job advertisements consistently exceeded 10%. That was until mid-2018 when the annual growth rate fell back markedly. 2019 was notable for its reduced employment advertising and this trend continued into the first quarter of 2020. Figures plunged in April as pandemic restrictions took effect but subsequent reports have provided evidence a recovery is taking place.
According to the latest ANZ figures, total advertisements increased by 9.4% in October on a seasonally-adjusted basis. The rise followed an 8.3% increase in September and a 2.8% gain in August after revisions. However, on a 12-month basis, total job advertisements were still 16.2% lower than in October 2019, up from September comparable figure of -24.7%.