Australia's job ads fell for the fifth consecutive month in June, and the market predicts that the Reserve Bank of Australia may raise interest rates again in August

According to Jinshi, data on Monday showed that Australian job advertisements fell for the fifth consecutive month in June as labor demand continued to slow amid high interest rates and a slowing economy. Data from ANZ Bank and employment website Indeed showed that job advertisements in June fell 2.2% from May, after a revised 1.9% drop in May. Job advertisements in the second quarter fell 7.1% from the previous quarter.

"The data suggest the pace of decline has accelerated. Similar patterns are emerging in other parts of the labour market, with indicators easing from strong positions," said ANZ economist Dunker. "Nevertheless, we expect the unemployment rate to rise only slightly to 4.3 per cent."

The slowdown in the labour market is one reason the RBA has kept interest rates steady at 4.35 per cent for five straight meetings, but with inflation continuing to unexpectedly rise, markets are betting there is a 65 per cent chance the central bank will raise rates again in August.