Job ads off the highs
Decent numbers again for job ads, rebounding in August to just below their June highs.
The bounce last month was all driven by a smart rebound Victoria, but it looks like the hiring boom has run out of steam overall.
Through the stimulus job ads got close to the pre-financial crisis/resources boom of 305,000.
Now they're at 301,000, and most likely on the way back down from here, as previously implied by the new jobs ads listed by SEEK.
Another construction firm went under at the end of last week in Brisbane, and we've seen a lot of these stories in recent weeks.
Tomorrow's figures should show that overseas arrivals into Australia are pinging back, which will help to ease the tight labour market conditions in time.
