Ads were down 4.8% on a year earlier, though they remain more than 50% above pre-pandemic levels. "Official data show the ratio of job vacancies to unemployed was still 0.86 in February, almost triple the pre-pandemic level of 0.3," noted ANZ senior economist Catherine Birch. "As such, we expect the labour market will remain very tight through 2023, with unemployment staying below 4%." The jobless rate is currently near 50-year lows at 3.5% and the strength of the market is a major reason the Reserve Bank of Australia (RBA) has lifted interest rates for 10 meetings in a row. The RBA meets again on Tuesday and markets are wagering it might choose to pause given the steep tightening already delivered, though analysts are more divided. (Reporting by Wayne Cole; Editing by Sonali Paul)
Messaging: wayne.cole.thomsonreuters.com@reuters.net)) SYDNEY, April 3 (Reuters) - Australian job
advertisements fell for a second month in March to turn annual
growth negative, a sign the red-hot labour market might be
losing a little momentum.
An updated series from Australia and New Zealand Banking
Group and job website Indeed showed job ads fell 2.4%
in March from February, when they dropped 4.8%.
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