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Australian job advertisements in newspapers and on the internet fell for the third consecutive month in May, according to a new survey by the Australia and New Zealand Banking Group. This found that job ads dropped by a monthly rate of -2.4% in May after falling -1.7% in April.
Advertisements are now -28% below their most recent peak at the end of 2010. In May, the average number of job ads per week was 132,456, down -18.5% compared to a year ago.
Job advertising on the internet fell -2.3% in May to 28,074, an annual decline of -17.5%. Newspaper job ads dropped by -4.7%. Newspaper job advertising fell in most states and territories with New South Wales continuing to record the least severe rate of decline.
“Job advertising weakened again in May and has now recorded three consecutive monthly declines,” said ANZ Chief Economist, Ivan Colhoun.
“In the past this has been a reliable signal for the trend in the series and argues that the apparent stabilisation in the early months of 2013 has not been sustained.” He added that the data could point to a moderate increase in Australian unemployment.
But official figures show that the seasonally adjusted jobless rate last fell to 5.5% in April from 5.6% in March despite a further slowdown in the mining sector.