The ANZ-Indeed Australian job ads rose 2.5% month on month in August to a seasonally adjusted 122.3, following a revised 1.9% increase to 119.3 in July, ANZ reported Monday.

ANZ senior economist Jasmine Zheng noted that Australian job advertisements rose in August but were expected to gradually trend lower as higher interest rates weigh on economic activity and demand in the months ahead.

July's labor market data were soft, with unemployment rising to 4.5% and employment and hours worked declining, supporting our expectation that labor market conditions will continue to ease and unemployment will gradually rise in the months ahead, Zheng added.

Indeed senior economist Callam Pickering said strong gains in Victoria, Western Australia and Queensland drove growth in job ads in August, more than offsetting a slight decline in New South Wales.

Seasonal hiring is gaining momentum as Christmas-related retail and food service jobs surge, while demand for tech workers continues to cool, Pickering added.

Compared with the year-earlier period, job ads rose 7.8% in August, per the report.