JOB ADS DECLINE AT SLOWER RATE

Written on the 3 February 2014

JOB ADS DECLINE AT SLOWER RATE

 EMPLOYMENT advertising continued to decline last month, albeit at a slower pace of deterioration.

ANZ’s research shows job advertisements fell 0.3 per cent in January, the lowest rate since early 2012, and down about three per cent during the last six months.

The bank’s chief economist Ivan Colhoun says the stabilisation is promising, but he remains cautious as the holiday trading can affect seasonal adjustment.

“While none of the measures of job advertising or vacancies have shown a convincing upward trend at this stage, they are clearly not falling at the sharp pace seen earlier,” he says.

“This suggests the unemployment rate will remain for some time and may peak in the 5.75 to six per cent range.

“Recent developments in job advertising, as well as in other key economic indicators, suggest the outlook for the Australian economy is becoming more positive.

“Low interest rates are boosting the interest-rate sensitive sectors of the economy, with house prices and building approvals picking up strongly.

“There are now also signs that this is encouraging domestic retail spending, with retail sales growth strengthening notably since last July at an annualised pace of eight per cent.”

Colhoun says they are forecasting reduced resources investment mid-year, creating uncertainty in the labour market.

“After declining very sharply since early 2011, Department of Employment job vacancies data show that the deterioration in mining job ads has slowed considerably, and even improved in some areas, which could suggest some of the decline in labour demand associated with the imminent mining investment wind back may have already occurred.”


Latest News

VITA GROUP POSTS STEADY RESULTS DESPITE ROUGH YEAR

IT'S no secret Vita Group (ASX: VTG) has had a testing year, however the company has still managed to deliver ...

KOGAN BREAKS FORECASTS IN ITS FIRST YEAR OF PUBLICLY LISTED TRADE

RAISING the bar high in its first year as a publicly listed company, Kogan.com (ASX: KGN) has smashed its forecast...

CAMPLIFY MOTORS INTO THE UK MARKET

CARAVAN hire and RV sharing community Camplify has made its move in the European market, establishing its first op...

COCHLEAR R&D INVESTMENT DRIVES NEW PRODUCTS AND BOOSTS PROFIT AND REVENUE

COCHLEAR (ASX: COH) has boosted its 2017 full year net profit by 18 percent to $223.6 million and has forecast furthe...

Related News

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

HOW MAKING MISTAKES AND PASSION SCORED WEIGHT LOSS PARTNERS A DEAL WITH SHARK TANK'S JANINE ALLIS

THEY partnered up to provide a scientific and targeted approach to dieting, and Kate Save and Geoff Draper cut Sha...

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