Home News Australia Job Advertisements Rise 3% In June – ANZ

Australia Job Advertisements Rise 3% In June – ANZ

Australia Job Advertisements Rise 3% In June – ANZ

Australian job advertisements climbed for a 13th straight month in June to reach their highest since 2008 as the demand for labor remained strong despite a round of coronavirus lockdowns across the country.

Monday’s figures from Australia and New Zealand Banking Group showed total job ads climbed 3.0% in June from May when they jumped 6.8%.

At 211,854, ads were up 129% from a year earlier when the labor market was still recovering from a national pandemic lockdown that had shut many industries for a month.

ANZ senior economist Catherine Birch said recent lockdowns in a range of states were a drag but any impact would likely be temporary.

“Recent history shows that workers laid off or stood down during lockdowns tend to be reinstated or find new jobs quickly once restrictions are lifted, given the underlying strength in the labor market and overall demand,” she said.

The survey following government data on vacancies out last week showed a huge 23% increase in the three months to May.

“Vacancies are twice their pre-pandemic level, and there are now 1.9 unemployed people per vacancy, easily the lowest ratio on record,” said Birch. “This suggests the unemployment rate has a lot further to fall.”

Unemployment has already fallen much quicker than policymakers expected to hit 5.1% in April, down from a pandemic peak of 7.5% reached in July last year.

The Reserve Bank of Australia is aiming to drive unemployment down to 4% or even lower in the hope of finally lifting wage growth and inflation after years of tepid gains.

“Closed borders are accelerating labor market tightening and should mean wages growth accelerates faster than it would otherwise,” Birch added.

Eskalera, a Startup Led by Goldman Sachs’ Former HR Head Has Launched a Diversity and Inclusion Index

Eskalera, a technology startup led by Goldman Sachs former human resources head Dane Holmes, has launched an index to measure corporate diversity and inclusiveness,...

HSBC to Remove 35,000 Jobs Amidst Covid-19 Crises

HSBC Holdings Plc has restarted cutting as many as 35,000 jobs, three months after the coronavirus outbreak forced it to pause a long-awaited overhaul...

Genpact Offers Its Internal Skill Training Program Globally for Everyone

Genpact has announced Adapt and Rise, a role-based online learning platform that leverages Genpact's expertise honed from delivering real-world change for hundreds of clients....

San-Francisco Based Learning Platform Degreed Has Raised $32 Million in New Funding

The upskilling platform, Degreed, has announced $32 million in new funding in direct response to overwhelming demand for better skill insights, talent mobility, and...

Research Shows the Implications of Workplace Layouts on Employee Productivity and Overall Performance

As some workplaces prepare for the gradual return of employees and overhaul office layouts and seating plans, research has shown this could also have...

Employee Concierge ‘Back Technologies’ Integrates Automation Into Internal HR and Other Support Tasks

Companies are under increasing pressure to automate workflows and digitally service their employees, particularly in light of trends toward remote work. It takes an...

HR Strategies to Help Your Business Navigate the New ‘Normal’

No business is immune to the massive changes resulting from the health crisis. Organizations have proven themselves to be agile, and employees have demonstrated...

The Importance Of Diversity And Inclusion In HR, Hiring, Talent Management: Thoughts From A Top Expert

Michael C. Hyter is one of today’s best-known experts on inclusion and diversity and the author of The Power of Choice: Embracing Efficacy to Drive Your Career and The...

HR Expert Highlights Actionable Steps to ‘Make Real Change’ Against Racism in Your Workplace

Kyra Leigh Sutton, Ph.D., is a faculty member at the Rutgers University School of Management and Labor Relations, where she teaches human resources courses...

Adidas Employees Want Company to Investigate HR Chief for Response to Racial Issues

A group of Adidas employees from around the globe is asking the company to investigate its chief human resources officer, as part of a...