JOB ADS FALL FLAT IN MAY

Written on the 11 June 2015

JOB ADS FALL FLAT IN MAY

DESPITE a 2.5 per cent increase in April, the upward trend of employment advertising fell flat last month according to the latest figures from ANZ.

Research from the bank shows a slight increase in job ads at 0.4 per cent in May, which heralds the 19th consecutive month of positive growth. However the rate has been slowing since late last year.

Ads have reached the highest level since September 2012, with a growth rate of 15.3 per cent year on year.

In trend terms, the growth is tapering off on a gradual slowdown from 1.3 per cent in October last year.

ANZ chief economist Warren Hogan says there has been slow decline in advertising the past few months, against the peak experienced in April.

"This slightly weaker result is in line with relatively soft confidence across both the household and business sectors," Hogan says.

"Although consumer confidence in economic conditions has improved on the back of the Commonwealth Budget, it remains below long-term average levels, weighed down by elevated unemployment and a soft labour market.

"Businesses also remain cautious, with soft growth in consumer demand and spare capacity impacting on confidence, hiring intentions and investment plans.

A boost in internet job advertising was offset by weakness in newspaper advertising, which fell 4.3 per cent in May.

Hogan says any improvement in business confidence will need to be sustained over the long-term to flow through to employment conditions.

"Going forward, these labour market outcomes tend to support our expectation of below-trend economic growth through 2015," he says.

"We continue to expect that the RBA will keep the cash rate on hold for an extended period, as it waits to see to what extent the two previous rate cuts are able to stimulate activity."


Latest News

AUSTRALIA READY TO DISRUPT GLOBAL CARBON FIBRE MANUFACTURING

AUSTRALIA for the first time has the capacity to produce carbon fibre from scratch and at scale, following the launch...

HONG KONG FUND INVESTS $212.8 MILLION IN G8 EDUCATION

G8 EDUCATION (ASX: GEM) has secured $212.8 million from Hong Kong-based CFCG Investment Partners to pay down debt and...

MERGER DELIVERS THE FINANCIAL GOODS FOR TERRY WHITE

TERRY White Group has posted a solid half-year net profit of $1.3 million amid a period of major transformation fo...

BLUE SKY APPOINTS TWO NEW INDEPENDENT DIRECTORS

BLUE Sky Alternative Investments (ASX: BLA) has appointed two new independent, non-executive directors to its board: ...

Related News

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

TEST DRIVE A POST GRAD AT BOND

THERE'S only one way to really move your career into the fast lane, says Bond University, and 'test driving...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter