Australia’s employment data for November is out at 11.30 AEDT this morning with the market expecting a rise in employment of 15,000 and an increase in the unemployment rate to 6.3% from 6.2% last month.
But data from the Australian arm of Indeed, the number one job site in the world, suggests that the jobs data could surprise to the downside – at least in original terms.
Indeed provided Business Insider with changes in the raw number of listings on its Australian site between October and November.
The Data showed that there was a month on month decrease in total listings of 5.7% from October to November. It also showed that all of the industry sectors Indeed report were all lower.
- Healthcare jobs: decrease of 1.9%
- IT jobs: decrease of 12%
- Mining jobs: decrease of 8.6%
- Retail jobs: decrease of 2.7%
- Tourism jobs: decrease of 5.6%
This data was provided by Indeed at Business Insider’s request and caution is warranted in terms of the direct relationship with the official jobs figures to be published by the Bureau of Statistics this morning, as they will be seasonally adjusted.
But it might help explain why the Westpac-Melbourne Institute Unemployment Expectations Index, released yesterday with the consumer sentiment survey, surged 4.5% in December after a rise of 2.7% in November. Higher readings reflect increased concerns about job losses.
We’ll have full coverage of the data at 11.30am.