Job advertisements in Australia fell by 10.6% year-on-year in March 2024 on a seasonally adjusted basis, according to ANZ-Indeed job ads data published on ANZ Bank. 

ANZ-Indeed Australian job ads fell 1.0% month-on-month in March following an upward revision in February to -2.1% month-on-month from -2.8% over the month. In trend terms the series was down 0.4% over the month.

Despite the annual fall of 10.6%, ANZ-Indeed job ads were 32.1% higher than pre-pandemic (2019 average) levels.

ANZ Economist, Madeline Dunk said, “The pace of declines in ANZ-Indeed Job Ads has eased.”

“While we expect to see a further moderation in job ads, the recent stickiness in the series implies it is unlikely to be a linear path downward and suggests we will only see a gradual rise in unemployment,” Dunk said.

Indeed Senior Economist, Callam Pickering said, “In March, the decline in ANZ-Indeed Job Ads was driven by New South Wales and Western Australia. Job ads in New South Wales have fallen in 10 of the past 12 months, more than any other state.”

“Tech hiring remained subdued in March, with Job Ads for software development, IT operations and information design falling once again,” Pickering said. “Job ads for these tech sectors are down by between 31% and 39% over the past year.”