Home > Latest News > Australian ‘Help Wanted’ Ads Surge To Recent High

Australian ‘Help Wanted’ Ads Surge To Recent High

Australian job vacancies appear to be soaring at the moment, as competition among employers for workers strengthens.

A study released this morning by ANZ shows that job ads rose 8.4 per cent, to 228,170 advertised positions across February, halting a decline over December and January caused by a surge of Omicron cases.

These February figures mark a massive 46.3 per cent jump from January, 2020, just before COVID-19 took ahold.

“The February increase reinforces the view we expressed last month that job ads hadn’t yet peaked with labor demand continuing to grow and job-switching expected to rise,” said Catherine Birch, a senior economist at ANZ.

“We now forecast the unemployment rate to fall to the low 3s by late 2022.

“As such, competition for labor is likely to remain elevated.

“Given our upgraded labor market outlook, the shift in bargaining power towards employees and higher inflation expectations, we should see wage growth accelerate convincingly through 2022.”

You may also like
Aussie Consumer Confidence Lowest Since August 2020
Consumer Confidence Rebounds After 3-Week Fall
Aussie Consumers Drive GDP Rebound
Biggest Consumer Confidence Leap In 17 Weeks
Aussie Consumer Confidence Hits Thirty-Year January Low