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Australia job advertisements rise 1.5 pct in Nov-survey

Published 04/12/2017, 11:30 am
© Reuters.  Australia job advertisements rise 1.5 pct in Nov-survey
ANZ
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SYDNEY, Dec 4 (Reuters) - Australian job advertisements in newspapers and on the internet rose for a second straight month to their highest since 2011, a sign the country's run of strong employment gains could last a while yet, a survey showed on Monday.

A monthly survey by Australia and New Zealand Banking Group ANZ.AX showed total job advertisements rose 1.5 percent in November, from October when they also increased by 1.5 percent.

The average total number of ads per week was 172,395, up a healthy 12.1 percent compared to last year.

"Another steady rise in advertisements along with other leading indicators suggests a positive outlook for the labour market, particularly given the solid prospects for economic growth," said ANZ's head of Australian economics, David Plank.

"That said, the improvement in labour market conditions has not yet translated into higher wage growth," he added.

Given this, Plank said it was encouraging that recent surveys had reported firms were having an increasingly difficult time finding suitable labour.

"In the past this has resulted in firms bidding up wages."

Jobs growth has surged this year, according to the official measure of employment, nudging the jobless rate down to 5.4 percent.

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