ANZ Australian Job Ads bounced back in June after falling more than 8% in May.

The ‘Holiday-year effect’ in late April and the timing of the election appear to have been responsible for much of the decline in May, and the rebound in June can be seen as an unwinding of that effect. In seasonally adjusted terms, job ads gained 4.6% m/m but fell by 9.1% y/y. In trend terms, job ads fell 1.4% m/m and 11.1% y/y.