Wednesday 3 August 2022 07:51 AM Why Australians hoping to switch jobs are running out of time to join the Great ... trends now

Wednesday 3 August 2022 07:51 AM Why Australians hoping to switch jobs are running out of time to join the Great ... trends now
Wednesday 3 August 2022 07:51 AM Why Australians hoping to switch jobs are running out of time to join the Great ... trends now

Wednesday 3 August 2022 07:51 AM Why Australians hoping to switch jobs are running out of time to join the Great ... trends now

Why Australians hoping to switch jobs during the so-called 'Great Resignation' are running out of time to choose a new career ANZ senior economist Catherine Birch said new job ads 'may be past the peak' Number of advertised positions peaked at a 14-year high back in March this year But the number has since kept falling despite unemployment falling to 1974 level 

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Australians hoping to switch jobs or find a new career may be running out of time to have the maximum choices before openings dry up.

ANZ's monthly job ad series showed the number of advertised positions fell by 1.1 per cent in July.

This occurred despite unemployment in June falling to a 48-year low of 3.5 per cent.

ANZ senior economist Catherine Birch said the monthly fall in job ads could be a 'signal we may be past the peak'.

The peak is occurring despite ANZ predicting the jobless rate falling even more to just 2.9 per cent by the March quarter of next year for the first time since 1974.

The number of job advertisements hit a 14-year high in March, with 242,068 jobs advertised on Seek or the federal government's Jobsearch website.

Online job ads in July fell to 237,047.

Australians hoping to switch jobs or find a new career may be running out of time to have the maximum choices. ANZ's monthly job ad series showed the number of advertised positions fell by 1.1 per cent in July (pictured is a stock image)

Australians hoping to switch jobs or find a new career may be running out of time to have the maximum choices. ANZ's monthly job ad series showed the number of advertised positions fell by 1.1 per cent in July (pictured is a stock image)

While the number of available jobs is falling, Ms Birch said the unemployment rate would still also fall because the effects of higher inflation and rising interest rates - which will result in reduced consumer spending and business closures - would take time to show.

'Consequently,

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