More evidence Australia’s unemployment rate is about to rise

Wednesday 19 April 2023

SEEK has released its full employment report for March, which shows that Job ad volumes decreased 0.6% month-on-month (m/m) and are 15.7% lower year-on-year (y/y):

As shown above, job ads have fallen for nine out of the past 10 months, signalling a weakening jobs market.

Job ads have weakened most in Victoria (-22.7% y/y), the ACT (-18.1%) and NSW (-17.6%):

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.