ANZ-Indeed Australian Job Ads remain stable

ANZ-Indeed Australian Job Ads rose 0.4 per cent month on month in March, following a 1.3 per cent month on month decline in February. In trend terms, the series was down 0.1 per cent month on month.

ANZ-Indeed Australian Job Ads is down 7.9 per cent annually but has been stable in a range of 114 to 117 for seven consecutive months.

"ANZ-Indeed Australian Job Ads rose by a modest 0.4 per cent month on month in March. The series has remained mostly steady for the last seven months and continues to track above its long-run average. The Australian Bureau of Statistics job vacancies fell 4.5 per cent month on month in February, but the level remained significantly higher than the long run average," ANZ Economist, Aaron Luk said.

"The labour market remained tight in February. Although employment fell by 53,000 in the month, this was likely due to a larger than usual number of people retiring, based on quarterly labour market flow data. The unemployment rate remained steady at 4.1 per cent (and declined slightly in the second decimal place), while the underemployment rate dropped below 6 per cent for the first time since February 2023. The resilience in the level of job advertisements suggests the labour market will remain relatively tight in the near term. We continue to expect the unemployment rate to peak at a quarterly average of 4.2 per cent in the second quarter. 2025, before gradually falling to 3.9 per cent towards the end of 2026."

"While Job Ads have been pretty stable in 2025, there have still been some large moves across regions and sectors. Queensland has been a big drag on Job Ads this year, offset by stronger job creation in New South Wales and Victoria. That’s a reversal of last year’s trend," said Indeed Senior Economist, Callam Pickering.

"Job Ads have increased considerably in retail, sales, administrative services and management this year, offsetting large declines in education and therapy roles. The tech sector has also rebounded a little in early 2025, following a rough couple of years."

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