Australian jobs data (May) – ANZ private survey -2.1% m/m and -18.1% y/y

Some local Australian data, ANZ-Indeed Australian Job Ads for May 2024:

• -2.1% m/m
• -18.1% y/y

Says ANZ on the release:

• -23.9% from its peak in November 2022
• still more than 20% above pre-pandemic levels
• “The (revised) ANZ-Indeed Australian Job Ads series shows a softening over 2024, with an 8.2% fall since the end of last year. Other data also show the labour market is cooling, but only gradually”

Last week we had official employment data, still strong but not as strong as it was:

• ForexLive Asia-Pacific FX news wrap: Aussie jobs report barely creates a ripple

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AUD/USD is on its low for the session, down a little to 0.6601

This article was written by Eamonn Sheridan at www.forexlive.com.