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Australia – Job adverts rise again but further job losses expected

06 July 2015

The number of jobs advertised across Australia increased by 10.8% in June 2015 compared with the same month last year, according to the latest figures from ANZ Bank’s ads survey. The latest rise was below the 14.1% report in May 2015; however, it should be noted that the May figures reflected the strongest increase for more than two years.

The number of job adverts has increase every month for the past year, when compared with the same month the previous year.

On a month-on-month basis job advert numbers increased by 1.3%.

Warren Hogan, chief economist at ANZ Bank, commented: “Job ads have been trending higher for nearly two years now and the unemployment rate has been broadly unchanged since [the middle of] last year amid better jobs growth. A significant share of the pick-up in employment growth has been in a range of labour-intensive services industries, in part supported by better trading conditions and low wages growth.”

“Downward pressure remains on employment in mining, mining-related construction, and manufacturing. Looking ahead, it is difficult to see jobs growth remaining as strong as it has been this year amid below-trend growth in economic activity. Significant job losses are still forthcoming as several large resource projects are completed. We expect to see the first signs of softer labour market conditions in this week’s official employment figures. But it could take some time to get clarity on the direction of the labour market.”