ANZ’s job advertisement survey is well-known as a leading indicator of employment numbers in Australia. It reflects changes in demand for labour and it provides another measure of activity in the economy. There is also a fairly good inverse relationship between changes in Australia’s unemployment rates and changes in the RBA cash rate. Having an understanding of where Australia’s unemployment rate is headed therefore provides clues as to future RBA rate changes.
Figures for June have been released and, after revisions, total advertisements in June rose by 2.7% to 175,091, which is 10.5% higher than a year ago.
