SYDNEY, The number of Australian job advertisements rose in May after two months of declines, private-sector data showed on Monday, suggesting labour demand was only easing gradually amid higher borrowing costs.
The number of job advertisements rose 1.8% in May from April, when they fell 0.6%, according to data from Australia and New Zealand Banking Group and employment website Indeed. Ads were up 2% from May last year, and remained 15.1% above their decade-long averages.
The gain was driven by food preparation, education and nursing, as well as construction, the data showed. Job ads for transport and driving were down sharply for two months, likely reflecting disruptions caused by the Middle East conflict.”We expect the economy to slow over the coming months as restrictive rates weigh on activity. This should see job ads trend lower from here, and for the unemployment rate to slowly drift higher,” said Madeline Dunk, an economist at ANZ.