06.07.202005:51:00UTC+00Australia Job Ads Log Record Increase In June: ANZ

Australia's job advertisement registered a record growth in June after easing of restrictions related to the covid-19, data from ANZ showed Monday.

Job ads increased 42 percent on a monthly basis in June, following a 0.3 percent decrease in May.

However, job advertisement decreased by 44.6 percent annually after falling 59.9 percent a month ago.

Week-to-week movements were positive as well, showing consistent improvement throughout the month, ANZ Senior Economist, Catherine Birch said. This is not overly surprising, given that COVID-19 restrictions continued to ease across most of Australia during June.

"After an initial bounce, we expect the recovery will be a lot slower," Birch added. There have been a number of recent large-scale lay-offs announced across a wide range of sectors, including travel, retail, media, consulting, and education.