Australian Job Ads Hit Lowest Since March 2021: What's Behind the Drop?

Job ads in Australia have dipped to their lowest level since March 2021, according to the latest ANZ-Indeed Australian Job Ads series. Despite remaining within a tight range over the past year, the May results show a notable decline, particularly in Queensland, which has emerged as the 'biggest drag' on job creation this year.

New South Wales and Victoria saw increases in job ads, but these gains were offset by weaknesses across other regions. Queensland's job market, once a strong performer, has significantly underperformed, impacting the national figures.

Sector-Specific Trends

• Management and project manager roles saw the most significant subtraction from growth in May.
• Education sector job ads rose but have experienced the largest decline over the past year, especially in Victoria, Tasmania, and the ACT.
• Software development job ads reached their highest level since October 2023, indicating a growing demand in this sector.

Labour Market Overview

Australia's labour market remains tight, with employment growth surging in April and the unemployment rate holding steady. However, there's been volatility in labour force survey data, with hours worked showing no growth in April and declines in February and March.

Economists maintain expectations for a cash rate cut by 25 basis points in August and again in the first quarter of 2026, reflecting the overall resilience of the Australian economy.