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The level of job advertising in Australia remains quite low. In September, job ads were -15% below the same month last year and only +6% above the lowest level reached during the global financial crisis, according to the latest figures from ANZ Research.
Job advertisements rose +0.2% month-on-month in September, although effectively unchanged, this technically represents the first monthly increase since February 2013. While jobs ads have fallen for six consecutive months, the pace of the monthly decline shows signs of having moderated in recent months.
Newspaper job advertisements rose +1.1% month-on-month in September, a relatively sharper increase than internet ads, which rose by +0.2%. As newspaper job ads represent less than 5% of total advertisements, this increase did not significantly impact the overall outcome for September.
Ivan Colhoun, ANZ’s Australian Chief Economist, said: “Trends in job advertising appear to be stabilising. Along with a number of other leading indicators of the labour markets, the rate of deterioration in ANZ job ads has moderated in recent months, with job advertising showing signs of improvement in a number of states and territories. This is consistent with ANZ’s view that much of the rise in the unemployment rate may have already occurred and that it is likely to drift only modestly higher.”
“The stabilisation in job advertising in September is consistent with other indicators of an improvement in consumer and business confidence in the weeks leading up to and immediately following the September Federal election. It will be important for these trends to be sustained in the months ahead. On Thursday, the Australian Bureau of Statistics releases the September labour market report. ANZ expects that around 15,000 new jobs were created in September, following two consecutive monthly declines. The unemployment rate is expected to have remained at 5.8%,” he concluded.