Job ads jump in August driven by NSW, Qld demand

Accountants Daily
29/9/2023

In the face of rising unemployment rates and heightened interest rates, August witnessed a remarkable 1.9% surge in job advertisements, following a 0.7% increase in July, as per ANZ-Indeed data. The ANZ-Indeed index currently sits at 146.2, significantly surpassing its 2019 level, reflecting the job market's resilience, especially in education, healthcare, and retail sectors. Although tech opportunities have dwindled in 2023, CEO Kris Grant anticipates the unemployment rate will stay below 4%, driven by labor shortages in various trades and sectors. Seek data indicates a 4.6% YoY rise in salaries, with the insurance and superannuation sector leading, while Queensland experiences robust salary growth regionally. Enhancing remuneration packages may become crucial for employers aiming to attract and retain talent in this competitive labor market.

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