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Job vacancies in Australia rebounded in the May quarter, led by openings in the construction and professional sectors, data showed on Thursday, in a sign demand for labour remained resilient despite a soft economy, Reuters reported. Figures from the Australian Bureau of Statistics (ABS) showed vacancies bounced 2.9% in the three months to May, partly reversing a 4.3% drop in the previous quarter ended February. Job openings were still down 2.8% from May last year at 339,400, but that was the smallest annual decline in the past two years.
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Inflation pressures across the Australian economy continued to abate in May, setting the stage for a third cut in interest rates by the Reserve Bank of Australia next month, the Wall Street Journal reported. The monthly CPI indicator rose by just 2.1% in the 12 months to May, following a 2.4% rise in the 12 months to April. Annual trimmed mean inflation was 2.4% in May, down from 2.8% in April. The RBA cut interest rates by 25 basis points in May, highlighting the growing risks to world growth from the U.S. policy on tariffs and rising geopolitical risks.
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Australia's financial crimes monitoring agency said on Wednesday that it has identified 90 scam victims, money mules and suspected offenders as the top crypto ATM users in the country, amid efforts to address crimes enabled by digital currency, Reuters reported. A nationwide operation led by the Australian Transaction Reports and Analysis Centre (AUSTRAC) examined the most prolific crypto ATM users in each state, and based on the transaction values, identified cases likely linked to scams or fraud.
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Australian employment dipped in May after solid gains the previous month, data showed on Thursday, although full-time jobs jumped and the jobless rate held steady in a sign of continued resilience in the labour market, Reuters reported. Figures from the Australian Bureau of Statistics showed that net employment dipped 2,500 in May from April, when they rose a revised 87,600. That was below market forecasts for a 22,500 increase, though the series has been very volatile in recent months. The jobless rate held at 4.1%, where it has been for over a year now.
The Victorian Liberal party will provide a $1.5m loan to former leader John Pesutto to ensure he can pay Moira Deeming’s legal fees and avoid bankruptcy, The Guardian reported. The loan was debated by the 19-member administrative committee on Thursday night and ultimately endorsed after a secret ballot, which was proposed to limit any factional retribution within a deeply divided party. Deeming, also a Liberal MP, successfully sued Pesutto for defamation after he falsely implied she sympathised with neo-Nazis and white supremacists.
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Beleaguered Sydney home builder J+CG: Building & Construction Company has entered administration, owing tens of millions to both creditors and customers due to alleged building defects, SkyNews Australia reported. The family-owned company began operations in 1994, and constructed multi-storey apartment buildings, office complexes and commercial and retail spaces.
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Australia’s economy slowed sharply in the first three months of 2025, leaving it vulnerable to emerging weakness in world growth as the global trade war and a surge in geopolitical risk undermines the confidence of firms and consumers, the Wall Street Journal reported. The economy grew 0.2% in the first quarter from the prior quarter, and expanded by just 1.3% from a year earlier, the Australian Bureau of Statistics said Wednesday. Economists had expected annual growth of closer to 1.5%.
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