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Monday 7 December 2020

Jobs ads back to pre-COVID levels as Melbourne reopens

Job ads surge

The good news keeps coming for Australia.

ANZ reported that job advertisements jumped 14 per cent higher in November.

Job ads rose 27 per cent across October and November combined as Melbourne reopened. 

Source: ANZ Research

Advertisements are now only 3 per cent lower year-on-year, according to ANZ's widely followed data series. 

November tends to be a strong month without the normal seasonal adjustments - at 152,905 advertisements there's a good chance that the unemployment rate is now turning lower.

This may imply an unemployment rate declining towards 6 per cent, although it could take several years for us to get there. 

Westpac has revised up its GDP forecasts for strong results in 2021, but still doesn't see the unemployment rate declining to 6 per cent until around 2023. 


UK house prices rose 1.3 per cent in November to be 7.6 per cent higher year-on-year.

This is the strongest annual growth since June 2016. 

The average UK house price rose to 253,423.