ANZ-Indeed Australian Job Ads fell 2.2% month-on-month in October 2025, following a revised 3.5% drop in the previous month. This marked the fourth straight monthly decline, reinforcing signs of a loosening labour market despite elevated inflation. Gains in retail and food ahead of the Christmas season were outweighed by a sharp drop in education-related ads, with job postings down across roughly 60% of occupation categories. In September, unemployment rose to a near four-year high of 4.5%, though the RBA maintained that the labour market remained “a little tight.” On an annual basis, job ads declined 7.4%, but still stood 8.4% above pre-pandemic levels.