Data post is here: ANZ job advertisements data for August: +1.5% m/m (prior was +0.5)
ANZ job advertisements data for August, +1.5% m/m
- ANZ job ads up for 3 consecutive months
- Up 8% so this year (ytd)
- ANZ comment that job ads are improving slowly, which is at odds with the July spike in unemployment
–
More from ANZ:
- ANZ Bank said the rise across both newspapers and the internet implies the labour market is improving slowly
ANZ Bank chief economist Warren Hogan:
- “Importantly, these developments appear to jar withthe surprise jump in July’s unemployment rate”
- Says the unemployment rate is likely to stay over 6% for a few more quarters, then to fall only very gradually
- “On the one hand, strengthening labour demand in some labour intensive industries, such as in construction, health and retail, is an encouraging sign … However, the effect on employment from the wind-back in mining investment is likely to have further to run, which will be a hindrance to a strong improvement in the unemployment rate over the next year or so”
