Australia job ads fall 3.0% in July from June, Indeed data shows
SYDNEY, Aug 6 (Reuters) -Australian job advertisements fell 3.0% in July, a sixth straight month of month-on-month declines, data showed on Tuesday, as demand for labour continued to ease in the face of high interest rates and a slowing economy.
Data from Australia and New Zealand Banking Group ANZ.AX and employment website Indeed additionally showed June figures revised down to a drop of 2.7% from 2.2%.
"We've also seen the share of employers recruiting fall sharply in June to levels last seen during the east coast 2021 lockdowns, while average hours worked per employed person has declined 30 minutes a week since February 2023," said ANZ economist Madeline Dunk.
"Taken together, there is a risk the labour market could slow more sharply than we and the RBA are forecasting."
Job ads for July were down 20.8% from a year earlier. They have fallen 28.6% from their peak in November 2022 but remain 13.3% higher than pre-pandemic levels.
The Reserve Bank of Australia is widely expected to hold interest rates steady at 4.35% on Tuesday, but focus will be on its updated economic forecasts and whether a rate rise was discussed amid a global market rout. 0#RBAWATCH
Reporting by Stella Qiu; Editing by Edwina Gibbs
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