Job ads: Strongest gain in nearly four years

ANZ-Indeed Australian Job Ads rose 4.4 per cent  month on month in January following a downwardly revised 0.8 per cent month on month decline in December. The trend series rose 1.3 per cent month on month, after a 0.7 per cent month on month rise in December.

"ANZ-Indeed Australian Job Ads rose 4.4 per cent month on month in January, the strongest monthly gain since February 2022," ANZ Economist, Aaron Luk said.

"The rise partially unwound the gradual easing seen through the second half of 2025, taking the job ads series back to around the August 2025 level. We note there could be some seasonal noise in the data this month, in that the data for the final week of 2025 may have affected the seasonal adjustment.

"That said, it is not unusual for labour demand to lift at the start of the year (the job ads series increased 6.2 per cent month on month in January 2019 and 3.9 per cent  month on month in January 2017).

"January’s pick-up follows a lift in employment of 65.2 thousand in December along with a drop in the unemployment rate to 4.1 per cent. However, looking at 2025 as a whole we would still describe the labour market as ‘mixed’.

"The unemployment rate ended the year where it started, while annual growth in employment and hours worked have been relatively soft at around 1 per cent year on year. We do not think the December data signal a material tightening in the labour market in the near term," he said.

"The rebound in Job Ads in early 2026 was relatively broad-based, with strong gains across all the major states. Compared to a year ago, Job Ads in Victoria and Queensland have fallen considerably, with New South Wales relatively unchanged and Western Australia growing strongly," Indeed Senior Economist, Callam Pickering, said.

"Gains in January were concentrated in occupations such as retail, customer service, food preparation, administrative assistance and sales. Job Ads rose in around 70 per cent of occupations during January, however, Job Ads are still lower than a year ago in almost 60 per cent of job titles."

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