Job advertisements in Australia decreased by 14.9% year-on-year in December 2023 on a seasonally adjusted basis, according to ANZ-Indeed job ads data published on ANZ Bank.

On a seasonally adjusted monthly basis, job ads rose marginally by 0.1% in December. In trend terms, job ads were down 2.0% over the month.

Indeed Senior Economist, Callam Pickering said, “In 2023, ANZ-Indeed Job Ads fell by 14.9%. Around 80% of this decline was driven by New South Wales and Victoria, with both states experiencing a much larger decline in Job Ads than other states and territories.”

“The annual decline was relatively broad-based across occupations, with job ads down across 70% of occupational categories,” Pickering said. “The biggest subtractions came from food preparation & service, software development and personal care, which more than offset sizable gains in therapy and education job ads. Nevertheless, Job Ads in 80% of occupational categories are still above pre-pandemic levels.”

ANZ Senior Economist, Catherine Birch added, “ABS (Australian Bureau of Statistics) job vacancies only declined 0.7% quarter-on-quarter in November, adding to the evidence that while the labour market is easing, there are no signs of a sharp deterioration approaching. Vacancies per unemployed person declined to 0.68, a two-year low, but this is still double the pre-Covid level. We see the unemployment rate lifting only modestly in 2024.”