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Australian Job Ads Rise Marginally in July

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Australian job ads rose in July with the ANZ-Indeed job ads increasing 0.8% month on month to 117.1 in seasonally adjusted terms following an upwardly revised 0.1% month-on-month decline in June, ANZ reported on Tuesday.

The rise brings job ads 2.1% higher over the year, with the series remaining 16.2% above its 2010s average and holding steady despite the Reserve Bank's rate hiking cycle, according to ANZ economist Aaron Luk.

The resilience in job ads aligns with a robust labor market, as June data revealed a 76,300 increase in employment, but some of this strength may reflect volatility linked with sample rotation.

The Reserve Bank is expected to maintain interest rates at 4.35%, with a risk of a hike in November due to the trajectory of the monthly trimmed mean inflation, Luk said.

The job ads growth in July was primarily driven by New South Wales, with contributions from Victoria and Queensland, offsetting some flat results in South Australia and Western Australia, according to Indeed senior economist Callam Pickering.

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