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2025-11-03 09:36:42
[Job Advertisements in Australia Have Declined for Six of the Past Seven Months] Australia's job market continues to show signs of weakness, with job advertisements falling 2.2% month-on-month in October, marking the fourth consecutive month of decline. The September figure was also significantly revised down to a 3.5% decline. Data shows that job advertisements have declined for six of the past seven months, with the year-on-year decline in October widening sharply to 7.4% from 4.4% in September. This trend corroborates recent official employment data – the unemployment rate unexpectedly rose to 4.5% in September. Although ANZ economists believe the actual slowdown in the labor market may be less severe than the unemployment rate suggests, weak hiring complicates policymaking. The market widely expects the Reserve Bank of Australia to keep interest rates unchanged at this week's meeting, given signs of inflationary pressures in the third quarter and core inflation approaching the upper limit of the 2%-3% target range. Recent statements by RBA Governor Michel Block also indicate that the authorities are closely monitoring the labor market's development in a "near-balanced" state.
