💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Australia job advertisements edge up 0.2 pct in March-ANZ

Published 04/04/2016, 11:30 am
© Reuters.  Australia job advertisements edge up 0.2 pct in March-ANZ
ANZ
-

SYDNEY, April 4 (Reuters) - Australian job advertisements in newspapers and on the Internet inched ahead in March, a potential sign demand for labour had peaked after a very strong 2015.

A monthly survey by Australia and New Zealand Banking Group ANZ.AX showed total job advertisements rose 0.2 percent to 155,108 per week on average in March, from February when they fell 1.2 percent.

Ads were still 10.0 percent higher on March last year.

Internet ads rebounded by 0.4 percent in March, while newspaper ads dropped 11.4 percent. Newspaper ads have been in decline for years and account for only a fraction of the total.

"The number of job ads has been broadly unchanged for four months now, signalling an easing in hiring intentions," said ANZ senior economist Justin Fabo.

"To some extent this is unsurprising given the strong pace of jobs growth over much of 2015 and modest improvement in the unemployment rate."

Official measures of employment surprised with their strength for much of last year but have softened in the past few months. The jobless rate has been mostly steady around 6 percent, when many had thought it would rise toward 6.5 percent over time.

"Hiring is taking a breather but we expect jobs growth to maintain enough momentum over the coming six months to keep the unemployment rate within earshot of 5.75 percent," said Fabo.

The Reserve Bank of Australia (RBA) has cited the resilience of employment as an argument against the need for further cuts in interest rates, but left open the door for an easing should unemployment start to rise again.

The March jobs report is due on April 21.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.