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

HARVEY NORMAN HITS OUT AT 'FALSE NEWS' OF ASIC INVESTIGATION

RETAIL giant Harvey Norman (ASX: HVN) has vehemently rejected reports its accounts are under investigation by ASIC, s...

RARE GOOD NEWS FOR SLATER AND GORDON AS ASIC CLOSES INVESTIGATION

ASIC has cleared Slater and Gordon of deliberately falsifying its accounts after a three-month investigation.

It s...

ADELAIDE DIGITAL MARKETING GURUS CHANGING THE FACE OF ONLINE RETAILING

Frank Grasso, CEO of Adelaide based Dynamic Creative, believes his company's new software will revolutionise Adwo...

Q & A WITH FACEBOOK GURU ANDY MCKEON AS HE JOINS AUSTRALIAN SOFTWARE COMPANY LIVETILES

HE was creative director at Apple under the legendary Steve Jobs, and is now a senior Facebook executive. In his n...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter