ANZ–Indeed Australian Job Ads rose 1.8% mom in May 2026, rebounding from a 0.6% decline in the prior month and marking the first gain since February. The latest data continued to suggest that labour demand is gradually moderating as elevated borrowing costs weigh on economic activity. The increase was driven by stronger demand in food preparation, education, nursing, and construction-related roles. In contrast, transport and driving job ads fell sharply for a second consecutive month, likely reflecting disruptions linked to the Middle East conflict. ANZ economist Madeline Dunk noted that restrictive interest rates are expected to slow economic growth in the coming months, which should lead job ads to trend lower and the unemployment rate to gradually edge higher. Compared with a year earlier, job ads increased 2.0% and remained 15.1% above their decade-long average, indicating that labour demand continues to be relatively resilient despite signs of cooling.

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