ANZ-Indeed Australian Job Ads: slight uptick

ANZ-Indeed Australian Job Ads ticked up 0.2 per cent month on month in January, following a 0.3 per cent month on month increase in December. In trend terms, the series was down 0.6 per cent month on month.

While ANZ-Indeed Australian Job Ads is down 15.1 per cent annually, the series is still 1.3 per cent higher than in August 2024 and has largely stabilised since. The series is still 15.0 per cent above pre-pandemic levels. 

"ANZ-Indeed Australian Job Ads has risen 0.5 per cent in the past two months, and the series is up 1.3 per cent from its August low. The stabilisation at a level 15.0 per cent above the pre-pandemic average points to the labour market’s resilience," ANZ Economist, Sophia Angala said.

"While the unemployment rate rose 0.1 percentage point in December to 4.0 per cent, the measure has remained within the tight 3.9-4.2 per cent range in the prior 10 months. Employment growth was strong in 2024, ending the year up 3.1 percent year on year. Robust demand for labour has been met by rising supply, supported by a 0.5 percentage point rise in the participation rate in the year to an all-time high of 67.1 point. We do not foresee a significant downturn in the labour market in 2025, and we expect a gradual lift in the unemployment rate to peak at 4.3 percent." 

"In January, growth in Job Ads was fairly mixed, with declines in Queensland and South Australia offset by gains in Victoria and Western Australia. Job Ads in New South Wales were broadly unchanged in January. Most of the annual decline in Job Ads has been concentrated in New South Wales and Victoria, with Job Ads relatively flat across the rest of Australia over the past year," Indeed Senior Economist, Callam Pickering said.

"Reduced hiring in education and therapy roles weighed heavily on Job Ads in January. Food preparation and service opportunities also declined to a large degree, even accounting for seasonal trends. This was offset by opportunities in management and administration, both of which surged in early 2025. Overall, hiring in most sectors has stabilised in recent months."

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