ANZ-Indeed job ads down again in August; still above pre-pandemic levels

Summary: Job ads down 2.1% in August; 22.9% lower than August 2023; ANZ: seventh consecutive monthly decline; ACGB yields rise; rate-cut expectations soften, February cut no longer fully priced in; ANZ: part of decline likely due to workers finding jobs; Westpac: still 11.4% above pre-pandemic levels; ad index-to-workforce ratio declines. From mid-2017 onwards, year-on-year growth rates in the total number of Australian job advertisements consistently exceeded 10%. That was until...

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