The number of job advertisements in Australia has seen a notable decline, indicating a potential shift in the labour market dynamics.
Recent data reveals a decrease in job ads across various industries, signalling a possible improvement in the employment scenario.
In the past month, job postings in sectors such as hospitality, retail, and manufacturing have fallen by 5%, reflecting the ongoing challenges in these sectors due to the pandemic.
The jobless rate has been tracking at very low levels and fell 0.1 percentage points to 3.6 per cent in September, based on official Australian Bureau of Statistics data.
However, this decline is not uniform, as some industries, like technology and healthcare, continue to experience steady job growth.
Economists suggest that this drop in job advertisements could be linked to several factors.
The government’s furlough scheme tapering off has led to increased confidence among employers to retain existing staff and focus on stabilizing their workforce. #featured
