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The number of job advertisements has fallen -18.6% compared with a year ago, according to the latest figures from ANZ, the Australia and New Zealand Bank. Numbers have continued to fall for the five consecutive months to July and now sits nearly -8% lower than in February 2013, when they last experience positive growth. The number of job advertisements, online and in newspapers, had been expected to fall compared with last year, however only by -17.6%.
Ivan Colhoun, ANZ's Australian chief economist, said: "Jobs advertising continued to decline moderately in July, with the number of jobs advertised in newspapers and on the internet declining -1.1% in the month. This was the fifth consecutive monthly decline and left the series around -18% below a year ago, though a number of structural changes in advertising this month, mean that the -1.1% decline likely overstates the actual decline in job advertising in the month."
“This month’s numbers, especially the newspaper job advertising trends in a number of states, have been affected by continuing structural change in the job advertising market. From 1 July, MyCareer, the job search site of the Fairfax Group moved to free job advertising. This had a noticeable effect on newspaper job advertisements in the Sydney Morning Herald and Age newspapers in the month and contributed to large seasonally-adjusted declines in newspaper advertising in both NSW (-9.6% m/m) and Victoria (-10.9% m/m),” he said.
Mr Colhoun added: “Abstracting from these effects, the continuing trend decline in advertising is consistent, unfortunately, with a further modest rise in the unemployment rate over coming months.”