ANZ Job Ads – A Signal of Labour Market Softening?

• ANZ-Indeed Australian Job Ads fell by 1.4% m/m in February, following an upwardly revised 1.3% rise in January.
• Annually, job ads remain just 0.9% above the August 2024 low, suggesting ongoing stabilisation rather than a sharp deterioration.
• Early-year education sector hiring typically drives job ad growth, but this trend has not materialised in 2025.
• Given that job ads are a forward-looking indicator, continued softening could translate into labour market loosening, despite a record-high participation rate and an unemployment rate of 4.1%.