SYDNEY (Reuters) -Australian job commercials fell for a second successive month in Might in an indication that the tight labour market could also be slowly easing, although the quantity remained effectively above pre-pandemic ranges.
Knowledge from Australia and New Zealand Banking Group and employment web site Certainly confirmed the variety of job adverts dropped 1.2% in Might from April, once they fell a downwardly revised 0.3%.
Job adverts in Might have been down 5.7% from a yr earlier, although they remained 13.6% increased than pre-pandemic ranges.
“Though the ANZ-Certainly Australian Job Advertisements collection has remained in a good vary of 114-117 during the last yr, the Might result’s within the backside of that vary and marks the bottom stage of job adverts since March 2021,” mentioned ANZ economist Aaron Luk.
“The labour market nonetheless stays tight, with sturdy employment progress and a low unemployment.”
The Reserve Financial institution of Australia lower rates of interest to a two-year low final month as cooling inflation supplied scope to counter rising world commerce danger, and signalled willingness for additional easing within the months forward.
The RBA has welcomed the power within the labour market, with the jobless fee hovering at 4.1% for over a yr now. It expects the unemployment fee to edge up barely and peak at 4.3% by the tip of this yr.
(Reporting by Stella Qiu; Enhancing by Christopher Cushing)