FALL IN JOB ADS PREDICTED TO BE SHORT LIVED

Written on the 8 August 2016

FALL IN JOB ADS PREDICTED TO BE SHORT LIVED A DROP in job advertisements placed in July has been put down to uncertainty surrounding the federal election and Brexit, and the numbers are expected to rebound next month.

There were 157,278 job ads placed in Australia in July, down 0.8 per cent on the previous month, according to the ANZ Australian Job Ads report. Annual growth in job ads has slowed to 6.9 per cent in July, from 8.0 per cent in June.

This was the first decline since April and is being put down to heightened uncertainty temporarily delaying hiring plans.

ANZ Head of Australian Economics, Felicity Emmett says, "This impact appears to be short-lived, with job ads picking up over the course of July, and little sustained effect from the increase in uncertainty on business and consumer confidence. For example, the ANZ-Roy Morgan index of consumer sentiment fell about 3 per cent in the weeks after Brexit and the federal election, but recouped almost all of that fall by the end of July."

The unemployment rate has stabilised at around 5.75 per cent after declining in the second half of last year from a peak of 6.3 per cent.

"With surveyed business conditions remaining upbeat and the RBA cutting rates in August, we look for a gradual improvement in hiring intentions over the remainder of the year," says Emmett.

Latest News

SUPREME COURT ORDERS OCTAVIAR GROUP TO WIND UP

THE Queensland Supreme Court has ordered the Octaviar Group of companies (formerly known as MFS Group) to be wound...

CEOS BRAVE THE COLD TO RAISE $1.4 MILLION FOR THE HOMELESS

MORE than 400 executives confronted the cold last night in the annual Vinnies CEO sleepout, which took place benea...

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT "DESPERATION"

South Australia's new bank levy exposes the desperation of a government that is unable to get its own budget and ...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter