June jobs shake off rate rise

Online job ads hit the highest level since 2008 in June, according to the National Skills Commission, although growth in Western Australia was slower.

Vacancies in WA were up 0.2 per cent compared to May, to be 34,400.

But while growth was slow in the month, ads were still 30 per cent higher than last year, and more than double the level before the pandemic.

Nationally, job ads grew 1.2 per cent to be 303,400

That’s the highest level since April 2008, the commission said.

The strong jobs data comes despite the Reserve Bank of Australia raising interest rates in May and June, with a further rise earlier this month taking the official cash rate to 1.35 per cent.

The rate hikes are in response to inflation rising dramatically as the economy accelerates following two years of post-COVID stimulus.

In March, inflation in Perth hit the highest level since 1990 at 7.6 per cent.