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Financial News: Australia ANZ Job Ads Increase In June

Australia ANZ Job Ads Increase In June

07/04/2022 - 05:58:00 (RTTNews)

(RTTNews) - Australia's job advertisements rose again in June and exceeded the recent pack seen in March, data released by ANZ showed on Monday.

Job advertisements increased 1.4 percent month-on-month in June to 243,523, following a 1.0 percent rise in May. The latest increase was the strongest since February.

The sheer volume of unmet labor demand suggests underutilization will keep falling and stay low even as demand growth is curtailed by higher inflation and rising interest rates, ANZ Senior Economist Catherine Birch said.

"The very tight labour market is a key reason why we expect the Australian economy will be resilient in the face of these," said Birch.

On a yearly basis, job advertisements gained 18.4 percent in June, following a 17.4 percent increase in the previous month.

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