Copyright tradingview
Australian job advertisements fell for a fourth straight month in October, private-sector data showed on Monday, adding to signs that the labour market is loosening even as inflation surged. KEY DETAILS • The number of job ads fell 2.2% in October from September, when they dropped by a downwardly revised 3.5%, data from Australia and New Zealand Banking Group ANZ and employment website Indeed showed. • Job ads in October were 7.4% lower than a year earlier, and remained just 8.4% higher than pre-pandemic levels. • There were strong gains in retail and food sectors ahead of the Christmas season, but that was more than offset by a large decline in education. Job ads were down in around 60% of occupation categories. KEY CONTEXT • The Reserve Bank of Australia is widely expected to skip a cut in interest rates on Tuesday after inflation surged, quashing hopes for more policy easing this year. Markets assume there will be just one more cut in the 3.6% cash rate, but not until May next year. • A spike in the unemployment rate to 4.5% in September has complicated the picture, but the RBA downplayed the data, saying that it still judged the labour market was a little tight.
